USISPF welcomes the passage of the Insurance Laws (Amendment) Bill, 2025, which will remove the cap on foreign direct investment (FDI) in the Indian insurance sector. This critical reform will allow foreign insurers to set up wholly owned insurance companies in India, boosting long-term investment, stimulating healthy competition, driving innovation across the market and allowing the Indian consumer the choice for their health and security.
Consumers will be the greatest beneficiaries of this Bill, with greater access to insurance and more secure financial futures for all Indians. “Insurance for All by 2047” by the Government of India is a national mission to ensure financial security for every citizen and enterprise by the centenary year of India’s independence.
With this reform, the government has, after years of careful and deliberate planning, taken a fundamental step toward its goal of “Insurance for All by 2047.”