Foreign investment in insurance sector now allows full equity under automatic route with regulatory and governance conditions Foreign investment policy for the insurance sector is revised by substituting the Schedule I entry for insurance under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019. The amended framework permits 100% foreign investment in Indian insurance companies on the automatic route, subject to approval and verification by the Insurance Regulatory and Development Authority of India, compliance with the Insurance Act, 1938, and prescribed licensing, governance and pricing conditions. The 100% foreign equity cap is also extended to insurance intermediaries, and foreign investment in LIC is made subject to the Life Insurance Corporation Act, 1956 and applicable insurance law provisions.
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Foreign investment in insurance sector now allows full equity under automatic route with regulatory and governance conditions
Foreign investment policy for the insurance sector is revised by substituting the Schedule I entry for insurance under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019. The amended framework permits 100% foreign investment in Indian insurance companies on the automatic route, subject to approval and verification by the Insurance Regulatory and Development Authority of India, compliance with the Insurance Act, 1938, and prescribed licensing, governance and pricing conditions. The 100% foreign equity cap is also extended to insurance intermediaries, and foreign investment in LIC is made subject to the Life Insurance Corporation Act, 1956 and applicable insurance law provisions.
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