News From Press FDI in insurance: Need to ensure transparency in operations

FDI in insurance: Need to ensure transparency in operations

Shaking off a languid approach to regulation in crucial areas and developing transparency in operations are keys to enable FDI and enhance insurance penetration.

Source: Financial Express Apr 29, 2021

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.

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