FLAGSTONE RE MULLS PRESENCE IN PRIMARY MARKET IN INDIA

Bermuda’s Flagstone Re is planning an entry into the Indian primary insurance market within the next 12 months. Chairman Mark Byrne said the company was looking for a joint venture partner with distribution capabilities and was prepared to invest at least $30m in such a venture and would be looking for a 49% shareholding, India’s Business Standard reports. Byrne was speaking at the official opening of Flagstone Re’s new Knowledge and Research Centre in India. Already Flagstone Re has a presence in the reinsurance sector in India and boasts a representative office in Mumbai.