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In these circumstances, it’s refreshing to hear Devesh Srivastava (pictured), chairman-cum-managing director of GIC Re, describe the Indian insurance market as one of untapped potential and growth.
“As the insurance market is growing at a healthy rate here in India – registering growth in classes like health, fire and liability even during COVID-19 – it is assumed that the need for reinsurance will also go up,” Srivastava told Insurance Business.
“Furthermore, there are more insurance companies that are coming into the Indian domestic market, and this, too, will result in reinsurance requirements.”
The Indian insurance market has undergone a massive
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