India Approves 100% FDI in Insurance Companies, Signaling Sector Overhaul

India's government has approved a landmark reform permitting 100% foreign direct investment (FDI) in insurance companies, signaling a substantial overhaul of the country's FDI framework in insurance. This regulatory change is poised to enhance foreign participation in India's insurance sector, potentially reshaping market dynamics and competitive landscapes. The move aligns with broader efforts to attract international capital and expertise to support the growth and modernization of India's insurance industry. Additionally, leadership changes at major insurers like AIG and Chubb in the Asia Pacific region underscore an evolving industry landscape. Financial ratings affirmed for key insurers reflect stability, while cybersecurity and digital innovation are increasingly recognized as critical governance and operational priorities within the insurance sector. Addressing Southeast Asia's insurance protection gap remains a challenge that industry players aim to tackle through improved clarity and investment.