FDI Limit in the Indian Insurance Industry was Increased from 26% to 49% in March 2015

Date: 2015-09-07

“• The Indian insurance industry is regulated and governed by the Insurance Regulatory and Development Authority of India (IRDAI).

• The practice of non-admitted insurance is limited to the reinsurance segment.

• FDI limit in the Indian insurance industry was increased from 26% to 49% with the enactment of the Insurance Law (Amendment) Act 2015 in March 2015.

• Composite insurance is not permitted in the Indian insurance industry.

• The Insurance Laws (Amendment) Bill 2015 was passed on March 12, 2015.

• IRDAI is planning to adopt risk-based solvency requirements for insurance companies operating in India.”


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