With 12 to 15% growth, life insurance industry in India should be a USD350-400 billion market place by 2020, according to a senior exec at Metlife. During an interview with CNBC-TV18, MetLife executive vice president Maria Morris exuded confidence at the growth of life insurance industry in India. Increase in FDI insurance cap to 49% in India After a tumultuous journey over the past six years, the Insurance Bill 2015 was passed last March in India. The bill facilitates increasing foreign investment limits in the insurance sector from 26% to 49%. Reacting favorably to the passage of the Insurance Bill,…
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