India has allowed 11 Russian insurance companies to provide coverage for ships calling at Indian ports. The list includes Gazprom, Rosgosstrakh and Balans. This decision expands the opportunities for Russian shipowners in the Indian market.
Increase in the number of insurers
India has allowed 11 Russian insurance companies to provide insurance coverage for ships calling at Indian ports. Last month, there were eight such companies. Gazprom, Rosgosstrakh and Balans, among others, received new permits.
This step expands the list of Russian insurers that can operate in the Indian maritime transport market. The decision was made against the backdrop of continued cooperation between India and Russia in the transport sector.
Extension of permits for other companies
In addition to new entrants, India has also extended permits for previously accredited Russian insurers. This ensures continuity of insurance coverage for shipowners from Russia.
In total, 11 companies now have the right to work with Indian ports. This may affect logistics and traffic volumes between the two countries.
Possible impact on the market
The expansion of the list of insurers creates additional opportunities for Russian shipowners. At the same time, this may change the competitive environment in the Indian maritime insurance market.
Ukrainian
English