GENERAL INSURANCE CORP OF INDIA AIMS TO DOUBLE ANNUAL ASEAN GROSS WRITTEN PREMIUMS
[ Source: Bernama, 12 July 2012 ]
The General Insurance Corp of India aims to double its annual ASEAN gross written premiums from US$150 million as of March 2012 through its branch in Labuan, Sabah. Ashok K. Roy, chairman and managing director of the Indian insurer, said the Labuan branch, the first in the ASEAN region for the company, has the potential to be converted into a subsidiary as demand for business in the region is vast. Additionally, being strategically located in the region, Labuan makes for an ideal business place.