Budget 2021 | FDI cap hike for insurance should catalyse growth of industry: ICICI Lombard General Insurance CEOAt the same time, steps such as privatization, increased allocation to healthcare and infrastructure, voluntary scrapping of vehicles policy are positive for the sector
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Bhargav Dasgupta, MD and CEO, ICICI Lombard General Insurance. Credit: ICICI Lombard General Insurance.
By Bhargav Dasgupta,
The non-life insurance sector finally witnessed a long-standing demand being fulfilled in terms of increase in FDI limit to 74%. This should catalyse the long-term development and growth of the industry.
At the same time, steps such as privatization, increased allocation to healthcare and infrastructure, voluntary scrapping of vehicles policy are positive for the sector. What remains to be seen is the timely implementation of these measures.
(The author is the Managing Director and Chief Executive Officer of ICICI Lombard General Insurance)