New legislation in India is set to allow foreign insurers to enter both the life and general insuranc...
New legislation in India is set to allow foreign insurers to enter both the life and general insurance markets. At present both life and general insurance in India are monopolised by two nationalised companies, Life Insurance Company of India and General Insurance Company of India. The bill, now passed by both houses of parliament in India, will allow foreigners to own 26% in Indian insurance companies. A number of companies including Standard Life, Royal & Sun Alliance and Commercial Union have been eagerly awaiting the legislation, whose passage has been thwarted a number of times in re...
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