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“The announcement by the government in today’s Union Budget to increase FDI in insurance companies to 74 per cent from 49 per cent is a move in the right direction. Insurance is a capital-intensive business and post the pandemic--many Indian partners are not in a position to invest further capital in their companies. Certain companies also require capital infusion to conserve solvency margins,” said Vighnesh Shahane, managing director and chief executive officer at Ageas Federal Life Insurance.
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