Review of Foreign Direct Investment Policy (FDI) on Insurance Sector

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..... Foreign Direct Investment policy on Insurance Sector. Accordingly, Paragraph 6.2.18.7 of `Consolidated FDI Policy Circular 2015', effective from 12.5.2015, is amended to read as below: S. No. Sector/Activity % of Equity/ FDI Cap Entry route 6.2.18.7 Insurance 6.2.18.7.1 (i) Insurance Company (ii) Insurance Brokers (iii)Third Party Administrators (iv) Surveyors and Loss Assessors ( .....

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..... ce Act, 1938 and the condition that Companies bringing in FDI shall obtain necessary license from the Insurance Regulatory & Development Authority of India for undertaking insurance activities. (d) An Indian insurance company shall ensure that its ownership and control remains at all times in the hands of resident Indian entities referred to in Notification No. G.S.R 115 (E), dated 19th February, .....

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..... ovided that where an entity like a bank, whose primary business is outside the insurance area, is allowed by the Insurance Regulatory and Development Authority of India to function as an insurance intermediary, the foreign equity investment caps applicable in that sector shall continue to apply, subject to the condition that the revenues of such entities from their primary (i.e. non-insurance rela .....

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