Distribution: an unfinished agenda

With the Insurance Laws (Amendment) Bill, 2015, finally getting passed by Parliament in March, the year started with great optimism. The industry looked forward to greater inflow of foreign capital as the Act allows for an increase in foreign direct investment (FDI) to 49% from 26%, and the long overdue cleaning of the distribution space was expected. At least 10 life insurance companies have lined up to hike their foreign stake, and those who have applied are waiting for regulatory approvals. There are 24 life insurance companies in India.

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