Subject: India allows 100% insurance ownership
Global firms can now own 100% stakes in Indian insurers as part of a sweeping overhaul of the financial sector aimed at attracting more long-term foreign capital.

The government has also said that existing regulations and conditions governing foreign capital in the insurance sector would be reviewed and simplified.

Insurance penetration — the ratio of premiums to gross domestic product — is about 3.7% in India, well below other Asian countries including Thailand, Japan and South Korea, according to data from the local regulator.

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Ajit Jain, who is from India, may be able to find new opportunities. In the past, they have declined to invest due to regulations and need to have domestic partners.