India brings early profits

Filed in archive Global Economy on March 23, 2004

Compared to the dreadful stories the Economist has about earlier non-success stories about global giants entering China in the 90s, the Handelsblatt has cheers about activities of Allianz in India.

Allianz tripled revenue from live insurances to INR 1.4 billion. Allianz is now the second largest private insurance company in India with a market share of 2.81%. Though the company only entered the country in 2001 as an insurer operations are already profitable and the overall satisfaction with the Indian joint venture partner Bajaj remains quite high.

A story you don't hear to often....