Towards the establishment of 12 new Indian insurance and reinsurance companies

The Indian regulatory authority IRDAI is currently considering 12 new applications regarding the creation of insurance companies. Among these applications, eight are for non-life insurance, three for life insurance and one for reinsurance.

The license to carry out insurance or reinsurance activities is issued after a two-phase review of the file: R1 and R2.

Three companies are currently at an advanced stage of the licensing process, namely IndiaBulls Life Insurance, Kshema General Insurance and Go Digit Reinsurance.