Insurance firms line up as FDI increase looms

New players are eyeing a pie of India’s R221,400-cr insurance industry following last month’s Cabinet’s approval to raise  foreign direct investment (FDI) cap in the sector from the current 26% to 49%.

While Magma HDI General Insurance and Liberty Videocon General Insurance have commenced operations, Avantha group  has entered into a joint venture with Germany’s Ergo Insurance Group to form Avantha Ergo Life Insurance. Read more