Private insurers authorized to develop activities abroad

Governmental authorities have submitted a bill authorizing private insurers having been operational for more than ten years to conduct insurance activities abroad from subsidiaries, branches or joint-ventures. Foreign insurers, partner in these joint-ventures will not be able to set up branch offices in India. Indian state insurers did obtain this authorization a long time ago. For the time being, the private sector cannot invest in the sector’s companies outside national borders whereas foreign insurers main detain up to 26% of an Indian insurance company.

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