The new #insurance regulations provide for FDI investment up to 26% under the automatic route, while for inflows beyond that and up to 49%, the approval of the FIPB is required.
Following the passage of the Insurance Bill, Indian companies with insurance ventures are poised to benefit from higher foreign shareholding limits that may draw over $3 billion from overseas investors.
During the first quarter of the fiscal year between April and June 2015, the #life insurance industry rebounded after slumping since 2010. During the first quarter of the fiscal year, the industry recorded robust 20% growth in new premium income.
MetLife hasa presence in Indian insurance segment through PNB MetLife Insurance Company Ltd. Several major Indian players, including Punjab National Bank, one of India’s oldest and leading nationalized banks, have a stake in PNB MetLIfe.
After a tumultuous journey over the past six years, the Insurance Bill 2015 was passed last March in India. The bill facilitates increasing foreign investment limits in the insurance sector from 26% to 49%. Reacting favorably to the passage of the Insurance Bill, India witnessed $184.97 million foreign direct investment (FDI) in the insurance segment from March to May of this year.