Budget 2025: HDFC Life, SBI Life, Insurers shares get FDI boost

Shares of India's insurance companies, HDFC Life Ltd., SBI Life Insurance Ltd. and ICICI Prudential Life Ltd. gained up to 4% on Saturday, February 1, after the Finance Minister Nirmala Sitharaman announced the increase in Foreign Direct Investment (FDI) in the sector.

The government has approved the increase in FDI in the insurance sector to 100% from 74% earlier.

As of the December quarter, foreign holding in HDFC Life stood at 25.14%, for ICICI Lombard, it stood at 24.36%, while for ICICI Prudential and SBI Life, it stood at 12.78% and 22.48% respectively.

The FDI limit was hiked to 74% from 49% during the Budget of 2021.

This is a developing story.