New Delhi, June 30 -- The insurance sector is seeing renewed interest from foreign investors since the foreign direct investment (FDI) limit was increased to 100% in 2024, Insurance Regulatory and Development Authority of India (IRDAI) chairperson Ajay Seth said on Tuesday. The insurance regulator has already approved a proposal by a foreign investor looking to increase their stake in their Indian insurance venture and is reviewing another, he added.

"There are also a lot of interest coming in from some of the foreign promoters seeking to get into a 100% ownership position. There are two conversations happening," Seth said. While faster growth in non-life insurance has made it the preferred target for equity hikes, interest in life insur...