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ARTICLE · 18 FEBRUARY 2026

India Overhauls Insurance Framework: 100% Foreign Investment Permitted, Wider Structural And Governance Reforms Enacted

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Pursuant to a Gazette Notification dated February 3, 2026, the Government of India ('Government') notified the Sabka Bima Sabki Raksha (Amendment of Insurance Laws)...

IndiaInsurance
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Introduction

Pursuant to a Gazette Notification dated February 3, 2026, the Government of India ('Government') notified the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 ('Amendment Act'), which amends the Insurance Act, 1938 ('Insurance Act'), the Insurance Regulatory and Development Authority Act, 1999 and the Life Insurance Corporation Act, 1956. All provisions of the Amendment Act are in effect from February 5, 2026 (except Section 25 of the Amendment Act pertaining to restrictions on directors and officers of an insurance company accepting roles in insurers carrying on the same class of insurance business or a banking company or an investment company). In parallel, the Ministry of Finance notified the Indian Insurance Companies (Foreign Investment) Amendment Rules, 2025 on December 30, 2025 which came into force on the same date ('Amendment Rules'). Read together, these reforms introduce significant changes to India's insurance regime,

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