According to IBEF, as per Fitch Ratings, the Budget 2019-2020 suggestion of relaxing foreign investment limit in insurance intermediaries from 49% to 100% will lead to support distribution capabilities and enhance the international involvement, particularly from developed markets. This removal of the foreign-ownership cap on insurance intermediaries is likely to intensify competition, strengthen distribution capabilities to improve insurance penetration and boost M&A in the medium to long term.

For more, click here.