Insurers Hail 'Near-Perfect' Insurance Bill: FDI, Investment Freedom & Distribution Clarity

• New Insurance Amendment Bill, 'Sabka Bima, Sabki Raksha', receives strong industry support, deemed "near-perfect."
• Bill excludes "open architecture" (multi-tied agency), a key relief for LIC and Bajaj Life, preserving agent stability and quality of advice.
• Eases investment regulations, allowing insurers to invest in private limited companies and offering greater flexibility for capital deployment.
• Permits 100% Foreign Direct Investment (FDI) under the automatic route, expected to attract significant global capital and foster sector growth.
• Empowers IRDAI to regulate commissions, enhancing transparency and customer welfare, aligning with "Insurance for All by 2047" goal.

Why It Matters: New Insurance Bill boosts FDI, investment flexibility, and distribution clarity, paving the way for 'Insurance for All by 2047'.