Coming full circle on insurance

With the appointment of the new chairman of the Insurance Regulatory and Development Authority (IRDA), the finance ministry is hoping to jump-start the insurance industry, especially the general insurance sector. This appointment comes at a time when insurance deregulation was reported to be a sticking point in trade negotiations between the EU and India, where the Europeans are seeking a bigger slice of the insurance market for foreign investors, capped at 26 per cent since 1999.

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