Fact Sheet: Insurance Bill | Life Insurance General Agency

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Fact Sheet: Insurance Bill

By Ashutosh Joshi

Prakash Singh/Agence France-Presse/Getty Images

A reflection of the Indian Parliament, New Delhi, Aug. 23, 2011.

Name: The Insurance Laws (Amendment) Bill, 2008

Aim: Among other things, the bill would allow foreign investors to own up to 49% in local insurance companies, up from 26% currently.

It would also create rules that would allow foreign companies to invest in reinsurance companies, which are basically firms that insure insurance companies.

Why it is important: Companies in India’s nascent insurance industry are eager to get more foreign capital to grow their businesses.

India has 24 life insurance companies, and 27 general insurance companies, majority of whom have a foreign partner.

However, many ... http://for-insurance.ucoz.com/news/general_insurance_company_in_india/2013-06-18-3600