Policy on foreign investment in the Insurance Sector- amendment of paragraph 6.2.17.7 of' Circular 1 of 2013-Consolidated FDI Policy'

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... gn investment in the Insurance Sector- amendment of paragraph 6.2.17.7 of' Circular 1 of 2013-Consolidated FDI Policy' 1.0 Present Position: 1.1 As per paragraph 6.2.17.7 of the Consolidated FD1 Policy, effective from 5 April, 2013' , FDI, up to 26%, under the automatic route, is permitted in the insurance sector subject to the following conditions: (1) FDI in .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Automatic 6.2.17.7.2 Other conditions (1) FDI in the Insurance sector, as prescribed in the Insurance Act, 1938, is allowed under the automatic route. (2) This will be subject to the condition that Companies bringing in FDI shall obtain necessary license from the Insurance Regulatory Development Authority for undertaking insurance activi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... who for remuneration arranges insurance contracts with insurance companies and/or reinsurance companies on behalf of his clients. (6) As per IRDA (TPA - Health Services) Regulations, 2001, "TPA" means a Third Party Administrator who, for the time being, is licensed by the Authority, and is engaged, for a fee or remuneration, by whatever name called as may be specified in the agreem .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X