Insurance Law
November 14, 2019

THE NEW FOREIGN DIRECT INVESTMENT NORMS FOR INSURANCE INTERMEDIARIES

Background Previously, foreign direct investment (“FDI”) in insurance intermediaries was treated at par with FDI in insurance companies and was restricted up to 49% under the automatic route.  Insurance intermediaries (including, insurance brokers, re-insurance brokers, insurance consultants, corporate agents, third party administrator, surveyors and loss assessors) vehemently argued this to be unfair as they did…

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Foreign Investment, Insurance Law
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March 13, 2015

INDIA – KEY CHANGES AFFECTING FOREIGN INVESTMENT IN THE INSURANCE SECTOR

Introduction On December 26, 2014, the President of India promulgated the Insurance Laws (Amendment) Ordinance, 2014 (the “Ordinance”) to amend the Insurance Act, 1938 (the “Act”), the General Insurance Business (Nationalisation) Act, 1972, and the Insurance Regulatory and Development Authority Act, 1999. On March 12, 2015, the Rajya Sabha (the upper house of the Parliament)…

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Foreign Investment, Insurance Law
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