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India Insurance Bill May Attract $3.2 Billion From Investors

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Indian companies with insurance ventures, including Max India Ltd. and Reliance Capital Ltd., are poised to benefit from higher foreign-shareholding limits that may draw more than $3 billion from overseas investors.

The passage of a bill raising the amount foreign companies can own in Indian insurers to 49 percent from 26 percent allows Bupa Finance Plc to boost its holding in its venture with Max India, which the U.K. company had applied for in January. Shares of Reliance Capital, which has a venture with Nippon Life Insurance Co., rose to a three-month high.