2 pleas of global players for ‘significant’ stakes in Indian insurance firms approved, foreign interest picking up: IRDAI chief
The Insurance Regulatory and Development Authority of India (IRDAI) approved two proposals from global insurers for significant stakes in Indian general insurance firms, reflecting increased foreign interest following the FDI cap raise to 100%. IRDAI Chairman Ajay Seth noted that the growth in the general insurance sector has surpassed that of life insurance, indicating strong market potential. The Bima Sugam platform is set to launch by September, further enhancing the sector's appeal to foreign investors.