insurance · In Force

Insurance Act 1938

2015: FDI raised to 49%. 2021: FDI raised to 74% automatic. Composite licence proposed. IRDAI as regulator. Minimum capital Rs 100 crore for life, general insurers.

Amended

2015, 2021

Ministry

Ministry of Finance

Key provisions and changes

• FDI raised to 74% (2021)
• Composite insurance licence (proposed)
• IRDAI regulation
• Minimum capital Rs 100 crore
• Solvency ratio requirements