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DPIIT notifies 100 pc FDI in insurance intermediaries

New Delhi, Feb 25 () The Department for Promotion of Industry and Internal Trade (DPIIT) on Tuesday notified the government’s decision to allow 100 per cent foreign direct investment (FDI) in insurance intermediaries. Intermediary services include insurance brokers, re-insurance brokers, insurance consultants, corporate agents, third party administrators, surveyors and loss assessors. The FDI policy earlier allowed 49 per cent foreign investment in the insurance sector, which includes insurance intermediaries. In its press note, the DPIIT said 100 per cent FDI is allowed in insurance intermediaries under automatic approval route. It said that insurance intermediary that has majority share holding of foreign investors shall undertake measures including incorporation as a limited company under

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