The Lord Mayor of London, Alan Yarrow has said that British insurance companies are keenly waiting for the passage of the Insurance Bill, which will pave the way for increasing foreign direct investment into the insurance sector from 26 percent to 49 per cent. He was speaking to reporters after inaugurating a new centre for the UK India Business Council in Mumbai on Tuesday. Mr.Yarrow said that the City of London is world's leading centre for insurance. Hoping that the bill is passed in the ongoing winter session, Mr. Yarrow said that once more FDI is allowed, then more England-based insurers may be interested in increasing their investmentMr. Yarrow said that he is positive about the Narendra Modi government as it staking every step to take the country's development to higher levels by improving the business environment. He said that there is a fantastic appetite for British companies to invest in India but their only demand is a better legal system. Inviting India Inc to invest in Britain, Mr. Yarrow said out of the 2 trillion pounds of overseas investments flowing into our country, the flow from India is very small. The Indo-British trade stood at 17 billion pounds last year and it is growing at double digit per annum.