Invest In India
INSURANCE
- The Insurance Sector includes
- Insurance Company
- Insurance Brokers
- Third Party Administrators
- Surveyors and Loss Assessors
- Other Insurance Intermediaries appointed under the provisions of Insurance
Regulatory and Development Authority Act, 1999 (41 of 1999).
- The Foreign Investment up to forty-nine percent of the total paid up equity of the Indian
Insurance Company shall be allowed on the automatic route subject to approval
/verification by the IRDA.
- The FDI in Insurance sector will duly bring in global practices in the country, that will
include new insurance products and selling strategy.
- India has 24 life insurance companies and 34 general insurance firms. Only about 4 in
100 Indians have life cover, offering companies a potentially massive market in the
world’s second-most populous country. Thus FDI in this segment will be a major
lucrative option to the foreign investors envisaging huge market for their business
growth.
- According to DPIIT, 100% FDI will be allowed in insurance intermediaries under the
automatic approval route (intermediary services include insurance brokers, reinsurance
brokers, insurance consultants, corporate agents, third party administrators, surveyors,
loss assessors.)
