Foreign investment in India's life insurance sector stands at 29%

The Irdai chairman has noted that the industry requires significantly more capital and that foreign investment alone cannot meet these needs

Foreign investment in India’s insurance market has been gradually rising, with several foreign insurers partnering with Indian companies to set up new ventures or acquire existing ones. However, Irdai data shows that as of FY24, foreign investment accounted for only 29.26 per cent of the life insurance segment. So far, only two insurers—Italy’s Generali and the UK-based Aviva—have increased their stakes in Indian joint ventures to the permitted 74 per cent. Recently, the Irdai chairman noted that total foreign investment in the insurance sector amounts to just Rs 80,000 crore, emphasizing that the industry requires significantly more capital and that foreign investment alone cannot meet these needs.