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ARTICLE · 03 OCTOBER 2019

100% FDI In Insurance Intermediaries: A Welcome Change

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Relaxation of foreign investment limits in the insurance sector has been a subject of much debate over a period of time.

IndiaInsurance
Shubhangi Pathak
Shubhangi Pathak
Priya Misra
Priya Misra
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Introduction

Relaxation of foreign investment limits in the insurance sector has been a subject of much debate over a period of time. Various stakeholders, including industry participants have advocated in favour of increase of foreign investment in the insurance sector. As a first step towards achieving this end, on 26th December 2014, the Insurance Laws (Amendment) Ordinance 2014 (Ordinance) was introduced to increase the permitted limit of foreign direct investment (FDI) in the Indian insurance companies from 26% to 49%[[1]]. Subsequent to the Ordinance, the Indian Insurance Companies (Foreign Investment) Rules 2015 (Foreign Investment Rules) were notified. As regards insurance intermediaries, Rule 9 of the Foreign Investment Rules stipulated that in parity with insurance companies, the foreign investment in insurance intermediaries shall be capped at 49%.

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