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Hike in India's foreign stake cap for insurers seen attracting US$3b

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BIG POTENTIAL: India's insurance penetration was 3.9 per cent in 2013, compared to the global average of 6.3 per cent.

Singapore

INDIAN companies with insurance ventures, including Max India Ltd and Reliance Capital Ltd, are poised to benefit from higher foreign shareholding limits that may draw more than US$3 billion from overseas investors.

The passage of a bill raising the amount foreign