Insurance News: India: Foreign insurers line up as FDI increase looms

New players are eyeing a pie of India’s INR2.21 trillion (US$40.2 billion) insurance industry following the Cabinet’s approval last month to raise foreign direct investment (FDI) cap in the sector from the current 26% to 49%, reported the Hindustan Times. A partner of KPMG was quoted as saying that there is room for some 15 more players in the sector, going by the current low penetration of insurance products in the country. Read more