The proposal would mark India's third FDI liberalisation in a decade, potentially reshaping insurer joint ventures and aligning with the government's “Insurance for All by 2047” goal.
The review follows parent company Sompo Holdings' US$3.5bn bid to acquire Aspen Insurance, with potential benefits for Sompo Japan's global footprint and specialty (re)insurance profile.
Under regulatory pressure to improve its capital adequacy, Taiwan's Mercuries Life is exploring a potential sale of the business along with other options.