Market Lane's deal with ARAG comes less than two months after the latter announced it would withdraw from Australia due to unmet business expectations.
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.
