Edelweiss Tokio Life Insurance, which commenced operations in 2011, is a joint venture between Edelweiss Financial Services and Tokio Marine Holdings.
dna analysis reported that the life insurer has already filed an application with the Foreign Investment Promotion Board (FIPB) in this regard.
The move is the latest in a series following the passing of the Insurance Laws (Amendment) Bill Parliament in March 2015 in India.
The bill seeks to raise foreign investment in private sector companies to 49% from the current 26%.
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