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 Money & Banking - Foreign Direct Investment
FDI hike in insurance hailed

Kolkata, Nov. 1

"The Union Cabinet's approval of FDI cap increase in insurance sector to 49 per cent is a welcome move for the insurance industry. Our shareholders will mutually decide on the issue after the Insurance Bill is passed in Parliament," said Mr Rahesh Sud, CEO & Managing Director, Max New York Life, on Friday. "The FDI cap will not have any impact on the growth strategy of Max New York Life Insurance as both our parent companies are committed and well equipped to provide capital to fund our growth plans irrespective of the change," he added. - Our Bureau

More Stories on : Foreign Direct Investment | Insurance

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