A lot of unutilised space in insurance sector for foreign investment

The stagnant share of foreign investment in insurance companies has prompted the government to defer raising the limit in the sector to 74 per cent from 49 per cent now.

As the table shows, there is headroom for foreign partners in both the life and non-life sectors within the current limits. This is the list shared by the sector regulator, the Insurance Regulatory Authority of India (IRDAI), with the finance ministry before the Budget.

Both the finance ministry and IRDAI had talks on this with the companies in the run up to Budget 2020-21.

“We did get representations to raise the limit, but