Good news for insurance customers! 18 new insurance companies will soon come in the market, premium will be

New Insurance Companies in Market: If you are planning to take an insurance policy soon, then this news is useful for you. New insurance products can be launched within the coming few days in the Indian insurance market (Insurance Sector India). Now a total of 18 new insurance companies are expected to come in the market. Talking to CNBC-TV18, IRDAI President Debashish Panda, the organization that regulates insurance related products in the country, has told that 18 new insurance companies may come soon in the country. IRDAI can issue a new license on this matter. Companies will be given this general license in which they can launch their life insurance products and general insurance products in the market.

The last insurance company was launched this year
IRDAI Chairman Debasish Panda said that the last time a new insurance company in the country got permission in the year 2017. After 5 years, the new insurance company Kshema General Insurance has been approved. Along with this, now other companies can also get approval in the coming times. He said that currently IRDAI has a total of 18 new insurance company proposals in the pipeline.

In such a situation, if all these companies get approval, then the options of many new products and companies will increase for the customers in the market. Let us tell you that along with this, IRDAI can relax the rule of minimum capital of Rs 100 crore for insurance companies. This can benefit both the customers and these companies.

What will be the benefit from new insurance companies?
If IRDAI abolishes the rule of minimum capital of Rs 100 crore by changing the rules for these 18 companies, then in such a situation small, medium companies will get permission to do good work in the insurance sector. With this, the reach of insurance will increase to every section of the country. Competition will increase in the insurance sector and customers will get its direct benefit. Customers will get the benefit of discount in premium and different offers along with more options. Along with this, let us tell you that up to 100 percent FDI can be approved in IRDAI insurance sector. Right now its limit is 74 percent.

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