Lloyd's business critical insurance solutions broker Howden announced the launch of broking operations in India through a newly created subsidiary.
Howden Insurance Brokers India Private (Howden India) will be based in Mumbai (Bombay).
The announcement follows the receipt of an operating license from the Insurance Regulatory and Development Authority to operate as a composite insurance broker.
Howden said the new subsidiary was a joint venture between Howden Mauritius and Dr Naresh Trehan, an eminent Indian cardiologist.
Howden India, led by chief executive Praveen Vashishta, will provide direct access to global specialist lines markets, said the company.
The company will focus primarily on liability insurance and will offer a range of insurance products, including D&O and PI cover.
Howden India said it planned to open offices in Delhi and Bangalore in the next few months.
The Indian expansion follows the acquisitions of UK-based JK Bukenham and Sweden-based Holm & Co.
