Insurance companies can invest up to 15% in equities: IRDA

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Insurance companies can invest up to 15% in equities: IRDA
The insurance regulator and development authority (IRDA) on Friday approved revised Regulations regarding Investments by Insurance Companies.

Insurance companies will now be allowed to increase their exposure in equity in a given company from the present level of 10% to a higher level of 12% and 15% depending upon the size of the Controlled Fund of any given insurer, IRDA said in the press release.

The Authority has also approved the Regulations which would strengthen the Indian Institute of Insurance Surveyors and Loss Assessors and enable this important profession to further improve its professional capability and the the effectiveness with which they serve the insurance industry.

The Authority believes that the introduction of these Regulations and the earlier Regulations on Product Design and Reinsurance would equip the industry to better serve the needs of policyholders and will enable the orderly growth of the industry.

The Authority hopes that these Regulations will enable the development of a more robust consumer friendly and reliable health insurance system in the country.

Read more about: irda, insurance
Story first published: Saturday, February 9, 2013, 10:41 [IST]
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