Overview
- A Lok Sabha bulletin lists the Insurance Laws (Amendment) Bill 2025 for introduction during the Dec. 1–19 Winter session.
- The legislation would overhaul the Insurance Act, 1938, the LIC Act, 1956, and the IRDAI Act, 1999 to ease entry via composite licences and lower paid-up capital.
- Proposed amendments to the LIC Act would grant the board greater operational autonomy, including decisions on branch expansion and recruitment.
- The finance ministry will also bring the Securities Markets Code Bill 2025 to consolidate the SEBI, Depositories, and Securities Contracts laws into a single code.
- The insurance sector has attracted about Rs 82,000 crore in FDI under the 74% cap, with the government targeting deeper penetration and improved ease of doing business.