Insurance Europe strongly believes that the approval of the Insurance Bill would have important benefits for the Indian insurance sector and the Indian economy. For instance, a foreign direct investment rise would inject capital into the Indian economy, create jobs and expand the ability of insurance and pension companies to generate stable long-term capital for investments in infrastructure. In addition, enabling foreign reinsurers to open branches will unlock the potential of the Indian insurance industry, providing vital capacity and claims paying ability, including cover for natural and industrial catastrophe events.