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100 Per Cent FDI In Insurance Intermediaries Upsets Domestic Brokers

100 Per Cent FDI In Insurance Intermediaries Upsets Domestic Brokers

The recent announcement by Finance Minister, Nirmala Sitharaman to raise the limit for foreign direct investment in the insurance intermediaries sector from 49 per cent to a 100 per cent has not gone down well with domestic brokers. The industry in question accounts for Rs. 4,500- 5,000 crore. The insurance intermediaries sector includes insurance broking, insurance companies, third party administrators, surveyors and loss assessors.  “The government has taken a view on increasing FDI in India in the sector from a…

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