ANNOUNCED AS TEMPORARYNo
FDI: Entry and ownership rule
On 23 May 2013, the Insurance Regulatory and Development Authority (IRDA) India allowed Indian insurance companies to own insurance companies (including branch offices) abroad.
Such a company could be where the Indian company has subscribed the paid-up capital and shall include a foreign subsidiary where the Indian company owns more than 50% of the paid-up capital or controls the composition of the Board of Directors. This is subject to several conditions on the type of insurance business, share ownership/control structure of the new company, and the years of existence, net worth and profitability of the Indian insurance company.
⚑ Please report this page in case you detect an inaccuracy in its content.