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Finance Ministry proposes issuance of one licence for all kinds of insurance

Insurers can also apply for any subclass of business like motor, health, and accident.

December 01, 2022 / 14:00 IST
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Finance Ministry on December 1 proposed the issuance of one licence for all kinds of insurance for new as well as existing insurance companies.

The composite licence will facilitate open access for insurers in any line of business. Such insurers will be allowed to enter any segment -- life, health, general.

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Insurers can also apply for any subclass of business like motor, health, and accident.

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