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On 5 February, lawyers from Debevoise and Khaitan hosted a seminar in Hong Kong examining the current state of the insurance sector in India following the promulgation of the Insurance Laws (Amendment) Ordinance 2014 at the end of December.
The Ordinance, which will need to be ratified by the Indian Parliament when it reassembles next towards the end of February, allows foreign investors to hold up to 49% equity in Indian insurance companies as opposed to the earlier limit of 26%. It is expected that the move will bring more foreign capital and international expertise, and result in accelerated development of the Indian insurance industry through increased access to international insurance products, distribution channels and international best practices.
The seminar explored key aspects of the Ordinance, and the opportunities it raises for international investors.
Click here to access a recording of this seminar.