INDIA Trends and Developments Contributed by: Shailaja Lall and Uday Opal, Shardul Amarchand Mangaldas & Co
Conclusion The recent reforms are characterised by greater openness to foreign capital, rationalised ownership and governance norms, and enhanced supervisory powers, alongside targeted measures such as the GST exemption for individual life and health insur- ance and the Bima-ASBA mechanism for proposal- stage premium blocking. These reforms collectively lay the groundwork for a deeper, more resilient and more consumer-centric insurance market – one that can attract long-term capital, strengthen governance and elevate trust.
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