When it comes to the insurance industry’s emerging markets, they don’t come much bigger than India.

While this near limitless upside has enticed many insurers into the market, some serious obstacles remain, a new report from A.M. Best concludes. “Continued economic growth, an expanding middle class and heightened demand for health insurance are resulting in foreign insurers and reinsurers seeking to establish a greater presence in the country,” the report states. “However, while the insurance sector offers prospects for growth, it is also characterized by challenges and frustrations.”

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