Howden gets regulator nod to acquire 100% of India business

India’s government allows 100% foreign ownership of insurance intermediaries.

London-headquartered international insurance broker Howden Insurance Broking has gained the approval of the Insurance Regulatory and Development Authority of India (IRDAI) to increase its shareholding in Howden Insurance Brokers India Private Ltd. (Howden India) to 100% from 49%.

Howden said that the leadership team in Howden India will remain unchanged with Praveen Vashishta still manning the helm, amongst others.

In 2020, the Indian government amended its foreign direct investment rules, increasing foreign ownership of insurance intermediaries from 49% to 100%. Howden’s increased shares however is still subject to approval from the Reserve Bank of India.

You may also like:

Australia private health insurance net profit surges by 107.8% in Q1

Indian insurers forbidden from advertising services not part of cover

Singapore-based insurtech anycover clinches $450k funding

Follow the link s for more news on

Howden

Howden Acquisition

mergers and acquisitions

Also Read

Fitch expects Generali to back Hong Kong life unit’s expansion

PT Tugu Reasuransi records $7m net profit in H1 2024

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit