As of March 31, 2021, there were only 24 life and 34 non-life direct insurers in India, whereas there were 243 life insurance companies (1956) and 107 non-life insurance companies (1973) at the time of nationalisation. The full extent of the 49% FDI allowed with the Indian-owned and controlled regulation has been availed of only by nine of the 23 life and eight of the 28 non-life and health insurers.
Nine big financial changes that you must watch out for in October
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