The Indian government is considering allowing full foreign direct investment in insurance intermediaries to boost the sector and attract more funds, the Press Trust of India reported May 9, citing sources.

The sources said there is a need to remove the limit on foreign direct investment in insurance intermediaries — services that include insurance broking, third-party administrators, surveyors and loss assessors — from insurance companies.

Foreign direct investment in India's insurance sector, including intermediaries, is capped at 49%.