Aviva Set to Become India’s First Foreign Insurer to Acquire 100% Ownership
Upon completion of this transaction, Aviva will secure 100% ownership, making it the first foreign insurer to completely own an insurance joint venture in India.
This landmark buyout has been enabled by the Government of India's policy change allowing 100% Foreign Direct Investment (FDI) in the insurance sector, removing the previous ceiling of 74%.
Exam Perspective: This change indicates a robust shift towards global capital integration in India's insurance sector, which will likely prompt other multinational firms to follow suit.
Key Facts / Static GK
Previous FDI Limit in Insurance Sector: 74%
Current FDI Limit in Insurance Sector: 100%
Practice Quiz — 10 July 2026
Q1. Which of the following states recently became the sixth state in India to achieve full literacy under the ULLAS initiative?
Q2. Which foreign insurance company is set to become the first to acquire 100% ownership in an Indian life insurance joint venture?
Q3. Who has been appointed to chair the newly formed NCW Expert Committee reviewing IVF and ART regulations in India?
Q4. Which of the following has become the first-ever fruit from Haryana to secure an exclusive Geographical Indication (GI) tag?
Q5. With reference to the PM-SETU scheme, consider the following statements: 1. It is a centrally sponsored scheme implemented by the Ministry of Skill Development and Entrepreneurship. 2. The Hub-and-Spoke model of the scheme involves 200 Hub ITIs and 800 Spoke ITIs. 3. ArcelorMittal Nippon Steel India is the first private company to receive approval under this scheme. Which of the statements given above are correct?
Keep Learning with PrepZen
Get daily current affairs, live mock tests, mistake bank, vocab builder & more — all free on your phone.