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Lloyd's of London gets final regulatory nod to set up branch in India

Lloyd's of London received final approval from the Insurance Regulatory and Development Authority of India to set up a reinsurance branch in the country.

The U.K.-based business will open a branch in India, in time for renewals of reinsurance deals in April, according to a Jan. 19 release. This will allow Lloyd's to bring specialist reinsurance to the Indian market and work in partnership with local insurers.