Magazine

May 2019

Read the latest edition of AIR and MEIR as an Interactive e-book

Asian News - India: Foreign insurers taking bigger slice in joint ventures

Source: Asia Insurance Review | Jan 2016

Several foreign insurers have announced increases in their stakes in their Indian joint ventures to up to 49%, the maximum allowable under India’s new insurance law.
 
   The slew of announcements was made after the insurance regulator released in October 2015 guidelines clarifying a requirement in the insurance law – that was amended in March – for Indian insurance companies to be “Indian owned and controlled”.
 
   The Indian insurance market is seen as holding huge growth potential. Insurance market penetration stood at 3.3% in 2014 and is expected to grow to 5% by 2020, as the country of 1.25 billion people become richer.
 
   India has more than 50 insurers, 24 in the life insurance business and 28 non-life insurers.
 
Insurers which have raised or are increasing stakes
 
| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.