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India opens insurance intermediary sector to foreign brokers


India has opened up its insurance intermediary market and will allow foreign insurance brokers to buy up to 100% of local intermediaries, from the current 49%, DealStreetAsia reported citing sources. U.S.-based Fitch Ratings Inc. said that the decision will drive mergers and acquisitions, boost competition and bring in new products and technology in the Indian insurance intermediary sector.

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