In this draft circular, the regulator has suggested changes in surrender value rules for non-linked life insurance policies. Under the current draft Irdai regulations on non-linked insurance products, surrender values are determined based on a percentage of premiums paid by the policyholder, which increases with the number of premiums paid.
The Insurance Regulatory and Development Authority of India (Irdai) has increased scrutiny on the ultimate beneficiaries in share transfers within the insurance broking sector, leading to extended approval timelines. The regulator is examining general partners (GPs), alternative investment funds (AIFs), and venture capital/private equity funds associated with these transfers.
Although listed firms have become more responsible in implementing corporate governance norms amid tighter regulatory scrutiny and rising shareholder activism, they often score low on parameters like succession planning and compensation of top management - Issue Date: Dec 10, 2023
Data released by the Insurance Regulatory and Development Authority of India (Irdai) revealed that 31 insurers in the non-life industry underwrote gross direct premiums totaling Rs 1.43 lakh crore in this period, , IRDAI, market share, General Insurers