India insurance sector faces talent shortage

Darwin Rhodes Group, Indiaís only specialist insurance recruitment company, says liberalisation of Indiaís insurance sector has created enormous demand for talented actuarial and insurance specialists.

Speaking at the 10th Global Conference of Actuaries in Mumbai today, Darwin Rhodes CEO Peter Dunphy said India's insurance industry has changed significantly in the past two years as a range of global European and US insurance companies have launched in Mumbai and Delhi.

Previously depressed salary rates, limited employee movement and low penetration in the insurance sector has been replaced with a boom in demand for talented insurance specialists.

Peter Dunphy, CEO, Darwin Rhodes, said:

ìDarwin Rhodes has seen triple figure growth in the Indian insurance sector and this growth trend looks set to continue with leading firms seeking senior level actuary, insurance and pension specialists.

Increasingly we see the developing skills and experience of Indian nationals and this is allowing growth in the sector to come from within the country rather than relying on international recruitment. This is a welcome development as it enhances the strength of employers as well as the career opportunities of insurance industry professionals.

However, there is still a lack of qualified talent to take many positions as actuaries and insurance specialists which is currently skewing the demand-supply ratio.î

This is the third year Darwin Rhodes has sponsored the Global Conference of Actuaries and the company has a solid history placing talented insurance executives in companies throughout India.

India's rapidly expanding insurance industry, current market trends and other industry issues are being discussed at the 10th Global Conference of Actuaries on Thursday 7 and Friday 8 February 2008 from 8.00am onwards at the Taj President Hotel in Mumbai.

Darwin Rhodesí Indian client base includes:

AEGON Religare
AON Specialist
Canara HSBC Oriental Bank of Commerce Life Insurance
Gen Re
Hewitt Associates
HSBC - Kolkata
HSBC Global Actuarial Functions
ICICI Prudential Life Insurance
ING Vysya - Bangalore
Max New York Life India
Munich Re India
Paternoster
RGA Services India Private Limited
Watson Wyatt - Mumbai
XL India - Gurgaon