Lloyd's eager to enter India

 "We are interested in both direct insurance and reinsurance," Lord Peter Levene, chairman of Lloyd's, said.

 "Even if we are willing to form a joint venture to do business in India, the legislation does not allow us as Lloyd's is a market," he added.

 Lloyd's is a society of members of both insurers and individuals.
"We hope the Indian government recognises the Lloyd's structure, and eventually allow us to enter the insurance sector," Levene said.

 There are no private reinsurers in India. General insurance Corporation was converted into the national reinsurer four years ago.