Munich Re, Swiss Re gain India go-ahead

Munich Re and Swiss Re have received clearance from the
Insurance Regulatory and Development Authority of India (Irdai) to
establish a branch in the country.
The German reinsurer is understood to have obtained
"R3" approval, but is awaiting final procedural clearance
from the regulator, while a Swiss Re representative confirmed Irdai
has granted it R3 go-ahead.
Earlier this week Hannover Re and Scor announced they had
secured final approval to set up branch offices in India.
US life reinsurer Re