Reinsurers finally allowed into India.
The Indian (re)insurance sector has been opened to private domestic and foreign companies, breaking the monopoly enjoyed by the state-owned General Insurance Corporation (GIC) for over 25 years, writes Vivek Raghuvanshi.
The Insurance Regulatory Development Authority (IRDA) bill, passed bythe Indian parliament on 7 December 1999, allows foreign companies up to a
26% stake in any domestic company intending to enter
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