India International Insurance willing to extend to Asia

India International Insurance (III), a Singaporean joint venture combining the five Indian state-owned insurers has development plans in Asia. III is interested in Vietnamese and Malaysian markets. The presence of a network of insurance companies owned by its shareholders in 27 countries will support its expansion strategy. Each of the state-owned insurers, State General Insurance Corporation, New India Assurance, Oriental Insurance, United India Insurance and National Insurance detains a 20% stake in the Singaporean entity and obtain an annual dividend of 8.8 million USD from III.