Mumbai, July 16 -- Foreign insurers are raising their bets on India as regulatory reforms, stronger growth potential, and the prospect of full ownership make the market more attractive than it has been in years.

Reforms such as Indian Accounting Standards (Ind AS), a proposed risk-based capital (RBC) regime, which requires insurers to hold capital in proportion to the risks they underwrite, stronger disclosure norms and improvements in digital public infrastructure are bringing the country's insurance sector closer to global standards, said experts.

"Foreign insurers are already familiar with frameworks like risk-based capital and IFRS (International Financial Reporting Standards), so the market feels more familiar and easier to navigat...