QBE and Beazley are among the insurers that have drafted policy wording to place tighter limits on certain AI-related claims.
The deal gives the Swiss insurer a larger presence in specialist lines including cyber, marine, aviation, space and fine art.
The company has also withdrawn its target of increasing EPS by up to 8% by 2027.
The approval was granted by the IFSCA, allowing the insurer to carry out reinsurance business from India’s International Financial Services Centre in Gujarat.
