SBI Life's Jhingran: 100% FDI will fuel insurance sector growth

• SBI Life MD & CEO Amit Jhingran sees 100% FDI in insurance as a significant growth catalyst for the sector.
• The move is expected to attract long-term capital, technology, and innovation, expanding the underpenetrated Indian insurance market.
• Jhingran welcomed the decision to drop the open architecture proposal for individual agents, which had raised concerns for life insurers.
• He believes the Indian insurance market is large enough to accommodate new players, leading to overall market expansion.
• Jhingran supports enhanced powers for IRDAI, anticipating improved governance, transparency, and a stronger regulatory environment.

Why It Matters: 100% FDI in insurance promises growth, capital, and innovation for India.