Magazine date:
May 2008 Within the framework of the sector's progressive deregulation, the supervising body IRDA has authorized large groups to own a direct insurance company and an insurance brokerage company. The clients of the brokerage company are not required to underwrite policies from the insurance parent company. The business volume that brokers are entitled to achieve within the framework of this captive activity shall not exceed 25% of their annual portfolio. The country now has 270 brokerage firms.