New Delhi, Dec. 19 -- Parliament has passed the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, which amends key legislation governing India's insurance sector, including the Insurance Act, 1938, the Life Insurance Corporation Act, 1956, and the Insurance Regulatory and Development Authority Act, 1999.

One of the provisions of the bill allows up to 100 per cent Foreign Direct Investment (FDI) in insurance companies, opening the sector to greater foreign participation.

The move is expected to support capital augmentation, adoption of advanced technologies, implementation of global best practices, and expansion of employment opportunities.

Increased competition is projected to enhance efficiency in insurance products an...