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Are Indian Insurance laws uncertain?

Created by : Sujoy Sinha, Associate, DSP Merrill Lynch  | 04 05 2011 04:56:55 +0000
Industry : Insurance
Keywords : foreign investment uncertainty investment planning insurance law
Activity:  171 views;  last activity : 05 01 2011 16:37:02 +0000

Foreign partners say they have to operate in an ''extremely uncertain'' environment due to snake and ladder like laws governing the Insurance sector. What do you say about it? Do you think that is the case.

  
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Insurance Laws (Amendment) Bill is pending with the Standing Committee of Parliament for increasing the foreign investment in insurance joint ventures to 49 percent, an existing regulation requires that after completing 10 years of operation, overseas investment in such companies would have to be brought back to 26 percent.

Insurance Regulatory and Development Authority (IRDA) is PLANNING to publish a clarification of these regulations, foreign investors continue to operate in an extremely uncertain environment..
By Sujoy Sinha, Associate, DSP Merrill Lynch  04 05 2011 04:56:55 +0000
 
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No Indian insurance laws are not uncertain but they to change as external business environment changes. Toady's business environment is dynamic and challenging and there is need to change laws. Indian life insurance industry has seen complete cycle with nationalization in 1956 to opening up in 2000. Insurance is capital intensive business, there is need to infuse capital at regular intervals so toady we are talking about increase in FDI limit from 26% to 49%. Insurance provide solutions to risk not uncertainty whose probability lies between 0 & 1
By Danish khan, Business Analyst, cognizant business consultancy  04 05 2011 05:25:44 +0000
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Till now it is pending & waiting for clear pictures.
By Vipin Bhasin, Private Equity/Hedge Fund/VC-Manager, Indian Investment Co.  | 05 01 2011 16:37:02 +0000
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I think your views are correct Mr.Sujoy Sinha.

 
By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  | 04 05 2011 18:42:38 +0000
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There is need to change the regulations. The mixed environments should meet the requirements of regional benefits..
By prasad anumula, DEVELOPMENT OFFICER, LIC OF INDIA  | 04 05 2011 14:45:14 +0000
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Thanks Sujoy for the referal. No Indian isurance lawa are very much certain. The problem with the foreign partners I an envisage is the foreign environment foreign people not to their liking. Every body has his own set of rules same is the case with Indian insurance industry. Only thing is you have to mould yourself according to it. They might be rigid in not moulding themselves according to the situation. Look one thing is certain if west can come to bollywood and have no problems what is the problem with insurance players. It is only the mindset and nothing else.
By Aditya Sharma, Insurance Advisor/Analyst, LIC OF INDIA, ICICI LOMBARD  | 04 17 2011 07:39:40 +0000
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I support your statement, Danish & Indian insurance laws are capable of

taking care of every customer.

& thanks for referral.
By SHRIKANT MANOHAR DANKE, Project Manager, Phadnis Infrastructur Ltd  | 04 05 2011 09:59:40 +0000
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