Go Digit Life Insurance Receives IRDAI Approval To Enter Life Insurance Market

Go Digit Life Insurance has recently obtained the regulatory approval of the Insurance Regulatory and Development Authority of India (IRDAI) to carry out life insurance business in the country.

Go Digit, backed by Canada's Fairfax Group, is already active in the general insurance sector.
With the latest entry, the number of insurers operating in the life insurance segment has increased to 26.
Fairfax Group is currently the 25th life insurer in the country. Go Digit Life Insurance is the IRDAI's fourth licensee this year.

"Insurance Regulatory and Development Authority of India (Irdai) in its 122nd meeting held on June 02, 2023, has granted a Certificate of Registration to a new life insurer namely, Go Digit Life Insurance Limited to carry life insurance business in India," the regulator said.

Go Digit General Insurance, which has previously filed documents with market regulator Sebi, is also considering an IPO.

Go Digit, a joint venture of Watsa's Fairfax and insurance industry veteran Kamesh Goyal, provides health insurance, travel insurance, marine insurance, car insurance, property insurance, liability insurance, and other insurance products.