Increase in FDI limit in insurance sector to woo more foreign players: Moody's
Moody's Ratings said on Tuesday. Additionally, strong premium growth is expected to boost profitability of the sector.
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Currently, many foreign insurers are present in the country through joint ventures and could seek to increase their ownership stakes in their Indian affiliates following this change in regulation.
«We view foreign investment as credit positive because it increases product innovation. The presence of foreign stakeholders also brings benefits in the areas of capital adequacy, financial flexibility and governance standards,» Moody's Ratings said in a statement.
Presenting Budget 2025-26, Finance Minister Nirmala Sitharaman proposed to raise the foreign investment limit to 100 per cent from 74 per cent in the insurance sector as part of new-generation financial sector reforms.
Moreover, Moody's believes that the reduction in personal income tax will have positive trickle-down effects for the insurance sector.
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