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General Liability Insurance Market May Set New Growth Story | GEICO, Insureon, BizInsure, Allianz
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Dollars for finance, rupees for PSU banks
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Last Updated: Feb 02, 2021, 08:36 AM IST
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Industry CEOs and experts claim that the move will provide a fillip to an industry that needs more finances to insure more people in the world’s second-most populous nation and raise funds for long-gestation projects such as ports, road assets and aviation hubs.
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The FDI cap on insurance companies was first raised from 26 per cent to 49 per cent in March 2016.
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Five years after India increased the ceiling on overseas ownership in the insurance sector, finance minister Nirmala Sitharaman on Monday heralded bold reforms in a sector considered crucial for underpinning infrastructure financing.
Government s move to relax FDI limit for insurance a big boost for small insurers
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After years of deliberation, the Indian government has increased the Foreign Direct Investment (FDI) limit in insurance companies to 74% against the current 49%, Finance Minister Nirmala Sitharaman announced on Monday in the Union Budget of 21-22 albeit some “safeguards”.
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Experts anticipate more of the country s 23 private life insurers and 28 private general and health insurers to contribute to the growth of the sector with more impact.
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MUMBAI: Five years after India increased the ceiling on overseas ownership in its insurers, Finance Minister Nirmala Sitharaman Monday heralded bold reforms in a sector considered crucial for underpinning infrastructure financing. She raised the headroom on foreign holding to 74% in one go, potentially multiplying fund-raising avenues in a long-gestation industry that needs as much capital as is available.
FDI cap hike in insurance may offer more fund-raising avenues to the sector
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Last Updated: Feb 02, 2021, 08:36 AM IST
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Synopsis
Industry CEOs and experts claim that the move will provide a fillip to an industry that needs more finances to insure more people in the world’s second-most populous nation and raise funds for long-gestation projects such as ports, road assets and aviation hubs.
ThinkStock Photos
The FDI cap on insurance companies was first raised from 26 per cent to 49 per cent in March 2016.
Related
Five years after India increased the ceiling on overseas ownership in the insurance sector, finance minister Nirmala Sitharaman on Monday heralded bold reforms in a sector considered crucial for underpinning infrastructure financing.
Reliance Capital Limited debenture holders pave way for asset monetisation
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