Thursday, June 16, 2016

Life insurers resist IRDA's compulsory listing suggestion

The Insurance Regulatory and Development Authority (Irda) wants life insurers to mandatorily list shares on the stock exchanges while the industry has said that promoters should be allowed flexibility in capital management. In a recent meeting with CEOs, the regulator asked insurers to compulsorily evaluate listing in order to improve corporate governance.

The industry, however, suggested that not more than three-four companies are in a position to evaluate listing since growth in new business and profitability remains a challenge.

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