The captive's capital position strengthened in 2024 through profit retention and favourable investment gains, offsetting pressures from underwriting inefficiencies.
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.
