Foreign Risk Brokers In A Spot Over Irda Regulations

Leading international insurance and reinsurance brokers have decided against applying for insurance broking licences. They are re-evaluating their presence in the country.

Leading the pack is Jardine Lloyd Thomson Consultancy which has downsized its domestic operations. It is, in fact, closing down its Mumbai office. The insurance consultancy firm will not source any new business, said its managing director Vinod Sahgal.