https://www.taxtmi.com/news?id=23648 Increase in permissible Foreign Direct Investment in the insurance sector is proposed with foreign ownership and control allowed subject to safeguards: majority of directors and key management to be resident Indians, at least half the board to be independent directors, and a portion of profits to be retained as general reserve. The Insurance Act, 1938 will be amended to implement these governance and ownership conditions. en-us Mon, 01 Feb 2021 14:45:01 +0530 Mon, 01 Feb 2021 14:45:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23648 Increase in permissible Foreign Direct Investment in the insurance sector is proposed with foreign ownership and control allowed subject to safeguards: majority of directors and key management to be resident Indians, at least half the board to be independent directors, and a portion of profits to be retained as general reserve. The Insurance Act, 1938 will be amended to implement these governance and ownership conditions. News - Mon, 01 Feb 2021 14:45:01 +0530 https://www.taxtmi.com/news?id=23648