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Looks like Digit’s Life Insurance venture isn’t wasting anytime and will be releasing their first product in less than 30 days. You have to take a deep breath, but the opportunities here are pretty staggering IMHO. With the IRDAI potentially green lighting investing a portion of their life insurance float back into infrastructure. This could be one of those formative moments we look back on in 10 years time. The hoops they must have jumped through to get this license is testimony to the brands of both Fairfax and Kamesh Goyal. From the Economic Times: “Go Digit Life Insurance, in which both HDFC Bank and Axis Bank have bought stakes, plans to invest ₹500-600 crore (USD61m-73m)crore in the initial 18 months to start out as the country's 26th life insurer. Promoted by Prem Watsa's Fairfax and industry veteran Kamesh Goyal, the company aims to launch its first product within 30 days. "A large part of the ₹600 crore will be invested into tech and the company will focus on the protection line of business," said a source. The entry of Go Digit increases the number of insurers operating in the life insurance space, marking the first expansion since 2011. Apart from Fairfax and Goyal, HDFC Bank and Axis Bank have each acquired a 9.9% stake in the company. Go Digit received R3 certification of registration on Friday after obtaining R1 and R2 licenses. During this stage, the regulator scrutinises the financial condition of the promoters, foreign investors, and the management's general character. The regulator also evaluates the company's business plan, the expected volume of business, capital structure, and earning prospects. Srinivasan Parthasarathy, formerly the chief actuary of HDFC Life, has been appointed as the CEO, while Sanjay Vij, who previously led bancassurance in HDFC Life, is appointed as the deputy CEO. India's life insurance sector comprises a total of 25 companies, among which the Life Insurance Corporation of India (LIC) holds the dominant market share”