Bill proposing 100% FDI in insurance gets Centre nod

INTRODUCTION OF THE BILL IN THE ONGOING WINTER SESSION WAS PART OF THE HOUSE BUSINESS AGE.

- Rajeev Jayaswal

HT learns that the Insurance Laws (Amendment) Bill, 2025 could be announced in Parliament next week itself.

The increase in FDI was mentioned by the finance minister in her budget speech this year.

The proposed 100% FDI in the sector will give significant freedom to foreign companies in managing affairs of their firms with adequate safeguards which will be part of the rules framed in consultation with the sector regulator Insurance Regulatory and Development Authority of India (IRDAD), people familiar with the matter said, adding that the legislation is in lines with the government's plan to deepen insurance penetration and to achieve“ Insurance for all” by 2047.

The introduction of the bill in the ongoing winter session was part of the business agenda placed during the government's meeting with leaders of political parties on November 30 the people said, requesting anonymity.