Budget proposals positive for insurance sector: Fitch Ratings

India's 2021-2022 Budget proposals to relax foreignownership caps on insurers and listing of LIC will help the industr y attract foreign capital, strengthen solvency and promote competition, Fitch Ratings has said. Besides, the ratings agency said, these proposals could encourage global insurers to enter the fast-expanding Indian market, while international insurers already holding minority stakes in domestic companies may tr y to increase their ownership.