By:
Chandrashekar Bhat
BRITAIN and India have agreed to launch a partnership to spice up cross-market funding by the insurance coverage and pension sectors, the Treasury mentioned on Monday (11).
It mentioned the UK-India Pensions and Insurance coverage Partnership would assist the expansion of the sector in each nations, specializing in information sharing, rising bilateral funding and diversifying threat.
The settlement follows the twelfth UK-India Financial and Monetary Dialogue attended by the chancellor of exchequer Jeremy Hunt and the Indian finance minister Nirmala Sitharaman in New Delhi.
Deliberate actions embrace the facilitation of pension fund delegation visits to every nation and deepening knowledge-sharing on regulatory reforms within the insurance coverage and pension sectors within the two nations.
It additionally entails the sharing of UK experience to assist the event of GIFT Metropolis – India’s worldwide monetary providers centre – as a reinsurance hub.
“We welcomed the rising presence from UK monetary establishments and look ahead to additional cooperation throughout all asset courses with a specific concentrate on inexperienced finance,” a joint assertion by Hunt and Sitharaman mentioned.
