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The move to increase the FDI limit in the insurance sector will bring in a significant amount of capital. In addition, it augurs well for mid-sized firms and smaller players in need of capital to compete with the big boys.
The large insurance companies are well capitalised and backed by very strong Indian partners, mostly banks and large non-banking players.
The finance minister on Monday proposed to amend the Insurance Act to increase FDI limit in the sector to 74 per cent from 49 per cent and allow foreign ownership and control with safeguards. Under the new structure, majority of directors and
