India could become a reinsurance hub

The hike from 26 to 49% of the foreign direct investment (FDI) cap could help India's transition to the reinsurance hub status.

For the majority of senior employees meeting in London during the First Indian International Insurance Summit, paired with a favourable law and infrastructure implementation, the change of FDI should allow India to lead Asia-Pacific area.

According to Martyn Parker, chairman Global Partnerships of Swiss Re, the Indian government should also authorize international reinsurers to open local branches.