Irdai chief bats for 100% FDI in insurance to boost reach

Debashish Panda, chairman of the Insurance Regulatory and Development Authority (Irdai), advocated for raising the foreign direct investment (FDI) ceiling in the insurance sector to 100% from the current 74%. He believes this move will attract more foreign players, bolster the industry’s capital base, and help achieve the government’s target of ‘insurance for all’ by 2047.