The Insurance Regulatory and Development Authority (IRDA) will soon announce the much-awaited norms for initial public offerings (IPOs) of life insurance companies.
According to IRDA Chairman J. Hari Narayan, the norms have been finalised and approved by the Securities and Exchange Board of India. “Norms have been finalised and we are awaiting publication in the Gazette by the Government. We hope this will be done soon,” he said. The development comes after the market regulator gave its consent for the norms finalised by the IRDA.
In an informal chat with reporters here on Tuesday, Mr. Hari Narayan said the proposed changes in the Motor Third Party pool in the general insurance segment would be considered on the basis of the nature and size of the pool. “Concerns are expressed on the motor pool as it was conceived at a time when there was demand-supply mismatch. There is a fair amount of balance now,” he said adding there was no particular timeframe set for the changes as there was need for considerable amount of discussion.
