Encouraged by the government’s decision to push insurance reforms, UK-based re-insurance giant Llyod’s today said it hoped to start operations in India in the next one year.
“I think it would depend on discussion with the IRDA, they are going well. Starting operation takes time because we have to get various regulatory approvals, including management structure. It will take a little while,” Lloyd’s chairman John Nelson said.
“What is important is the forward movement. The moment is going good and I don’t think anything in 2015 but thereafter it will pick up,” he said.
