DPIIT notifies 100% FDI in insurance intermediaries under automatic approval route

The Department for Promotion of Industry and Internal Trade (DPIIT) recently notified that 100 per cent FDI is allowed in insurance intermediaries under automatic approval route.

The FDI policy earlier allowed 49 per cent foreign investment in the insurance sector, including insurance intermediaries. Intermediary services comprise of insurance brokers, re-insurance brokers, insurance consultants, third party administrators, loss assessors etc.