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Proposed rules may attract foreign insurance brokers in India: Fitch

Posted On: Jul. 16, 2019 7:16 AM CST

U.S.-based Fitch Ratings Inc. said that the Indian government's proposal to remove the foreign ownership cap on insurance intermediaries is likely to attract foreign insurance brokers, increase competition and boost mergers and acquisitions, Deccan Chronicle reported. The government recently proposed allowing foreign insurance intermediaries to own up to 100% of insurance brokers, agents, loss assessors and surveyors, from the current 49%.

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