The new regulations, which have been unveiled on Wednesday, have specified Rs 75 lakh, Rs 4 crore and Rs 5 crore of capital for direct broker, reinsurance broker and composite broker respectively  

On the growth and contribution of insurance broking, Vijayan said of insurance broking sector contributed around Rs 30,000 crore to Rs 1.28 lakh crore of non-life insurance premium last year 

“Insurance has not yet penetrated in a major way in India, both at the corporate and personal levels. As India develops, more corporations would need to be covered by insurance. Hence, insurance companies have tremendous unexplored value.”N.R. Narayana Murthy