IRDAI issues first R1 licence to ITI Reinsurance
IRDAI has given its first phase of licence to ITI Reinsurance, thus clearing the first ever Indian private sector reinsurance company in the country. The IRDAI board in a meeting…
IRDAI bans life insurers from offering indemnity-based health products
The insurance regulator has banned life insurers from offering indemnity-based health products, which constitute 90 per cent of the health insurance market, dealing a blow to their business plans. Indemnity-based…
Edelweiss gets nod from IRDAI to set up business in India
Edelweiss General Insurance Company (EGIC) cleared the first step in becoming an insurance company in India with the Insurance Regulatory and Development Authority of India (IRDAI) approving its registration application,…
E-insurance mandatory for Rs. 10,000 or above annual premium in life insurance: IRDAI
Electronic insurance will become mandatory for annual premium equal to or above Rs 10,000 (single/annual premium) in life insurance policies. IRDAI in its Issuance of e-Insurance Policies Regulations, 2016, said…
Online insurance is the talk of the day for agents
IRDAI is planning to put in place an insurance self-network platform which could be used by an agent to sell and service products on behalf of registered insurers. "The insurance…
Heavy discounts raise brows of IRDAI
Heavy discounts in insurance segments such as group health would soon come under the scanner of the Insurance Regulatory and Development Authority of India (IRDAI). The regulator has come up…
IRDAI gives approval to 23cross-border reinsurers
IRDAI has granted special approval to 23 Cross Border Reinsurers (CBR) for the year 2016-17. This will allow Indian insurers to make reinsurance placements with a large number of reinsurers.…
IRDAI issues fresh corporate governance guidelines
IRDAI has released comprehensive corporate governance guidelines, including a cap on salary of CEOS and policy on whistle blowers. The revised guidelines, which came against the backdrop of changes in…
Revised IPO guidelines for raising fund to come soon
Revised initial public offering (IPO) guidelines will be issued soon for insurers as some of them are keen to use this route to raise funds, the Insurance Regulatory and Development…
IRDAI grants 16 FDI proposals worth Rs. 14,592 crore
Insurance regulator IRDAI has approved as many as 16 proposals amounting to Rs 14,591.9 crore as foreign investment, Parliament was informed. "Post notification of the Insurance Laws (Amendment) Act, 2015,…