The Indian regulatory authority IRDAI is currently considering 12 new applications regarding the creation of insurance companies. Among these applications, eight are for non-life insurance, three for life insurance and one for reinsurance.
The license to carry out insurance or reinsurance activities is issued after a two-phase review of the file: R1 and R2.
Three companies are currently at an advanced stage of the licensing process, namely IndiaBulls Life Insurance, Kshema General Insurance and Go Digit Reinsurance.
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