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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