Privatization and Foreign Investments in Insurance

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1.
In which year did the Indian insurance sector officially open to private companies?
2.
What is the current Foreign Direct Investment (FDI) limit in the Indian insurance sector under the automatic route?
3.
Which of the following was the first private sector life insurance company in India after liberalization?
4.
Which committee played a pivotal role in recommending the privatization of the insurance sector in India?
5.
What is the main objective of allowing foreign investments in the insurance sector?
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