The Indian government has proposed a number of changes in the insurance sector including in the foreign direct investment (FDI) limits, changes in the taxation of unit-linked insurance plans (ULIPs) in the hands of consumers, and an initial public offering (IPO) of the Life Insurance Corporation of India (LICI). Milliman, in a recent report, analyses on how these proposed changes will act as a catalyst for the growth and development of the Indian life insurance industry.