Life Insurance Council, the industry body of all life insurance companies in India today signed a Memorandum of Cooperation with German Insurance Association, (Gesamtverband der Deutschen Versicherungswirtschaft e.V.).
The memorandum has been signed to promote a cooperative relationship and mutual understanding between the two insurance industry bodies. This would act as a platform for exchanging information, discussing matters and activities of common interest pertaining to the Insurance industry, said a press release by the Life Insurance Council.
V. Manickam, Secretary General Life Insurance Council, said, “Our association with GDV would be beneficial to the life insurance industry in India as it is still in its developing stages. We hope to adopt the best practices in respective countries, in our effort to reach out to all sections of the globe to spread life insurance awareness.”
The industry bodies will conduct employee exchange programs, through which representatives from Life Insurance Council and German Insurance Association will visit each other’s country.
Rolf-Peter Hoenen, President German Insurance Association said, “The memorandum will allow contribution of joint research and study activities and setting up of regional offices. This will increase the support and strengthen not just our association but our member companies as well.”
