IRDAI approves 1st 100% foreign-owned general insurers in India
Business
Big news for the insurance world: India's insurance regulator, IRDAI, has just approved the first-ever 100% foreign-owned general insurance companies.
This follows a 2025 rule change that bumped up the FDI limit from 74% to a full 100%.
The announcement came from IRDAI Chairman Ajay Seth at an industry event on Tuesday.
Ajay Seth cites 50L/cr awareness fund
Seth shared that more proposals are already in the pipeline, with growing interest from international investors.
He also mentioned plans to launch BIMA Sugam, a digital platform aiming to make buying motor, health, and term policies easier and commission-free, though it's facing some tech delays.
Plus, there's now a ₹50 crore fund set up to boost awareness about insurance across India.