100% FDI in Insurance to Cut Premiums, Attract Global Players: DFS Secy Nagaraju

• Government's 100% FDI decision in insurance expected to attract global capital and lower premiums, says DFS Secy M Nagaraju.
• India is a key investment destination; global insurers show interest in expanding operations, with a focus on attracting European and US players.
• Insurance Amendment Bill is a major reform to boost capital, competition, and consumer benefits, aiming for reduced premiums.
• IRDAI will be empowered to regulate high agent commissions, which currently inflate premiums or strain insurers' capital.
• Reforms also include raising IRDAI member age limit, easing leadership norms for insurance companies, and improving governance.

Why It Matters: 100% FDI and reforms aim to boost capital, competition, and lower insurance premiums for consumers.