India plans major insurance shake-up this winter as it may open doors to 100% FDI
These measures are part of the Insurance Amendment Bill, which is set to be tabled during the upcoming winter session of Parliament. The move aligns with the government’s broader goal of achieving "Insurance for All by 2047," a vision recently emphasised by Insurance Regulatory and Development Authority of India (Irdai) chairman Debasish Panda.
Expanding the insurance market with new players
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-115406834»>The current FDI ceiling for insurance companies is 74%, with intermediaries already enjoying eased restrictions. The sector currently includes 24 life insurance providers, 26 general insurers, six standalone health insurers, and one reinsurer—General Insurance Corporation.
By raising the FDI cap to 100%, the government aims to attract new players with the financial muscle required to underwrite policies in a capital-intensive industry. This measure is expected to complement domestic heavyweights like SBI, ICICI, HDFC, Tatas, and Birlas, which already dominate the sector.
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