General insurers want FDI raised to 74%, valuation remains a concern

Some even want 100% FDI; last week apex body General Insurance Council held meeting with members to discuss the issue of FDI

General insurance firms are in favour of raising foreign direct investment (FDI) limit in the sector to 74 per cent.

Last week, the General Insurance Council (GIC), the representative body of general insurance, health insurance and reinsurance companies in India, met to discuss the view of insurance companies in raising the FDI. All the companies agreed on raising FDI limit to at least 74 per cent.

“Prima facie no company had reservations in increasing the FDI limit to 74 per cent,” said sources

Also several companies are in favour of 100 per cent FDI in the sector.  

“The government is also considering the option