Fitch report pushes for barriers to fall in Indian insurance market
A new report from Fitch Ratings today said that several new players are expected to enter India's rapidly growing insurance market in the next one to three years, especially if the foreign direct investment ("FDI") limit is raised. Most private insurance companies are joint ventures between Indian and foreign partners; foreign partners' share is currently capped at 26%.
The report noted that India's insurance industry has undergone major structural changes in recent times and now accounts for 10%-15% of India's total financial sector assets.
Despite the strong growth
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