The government in FY22 provided Rs 5,000 crore capital to three insurers National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company.
The IRDAI has issued two exposure drafts proposing amendments to non-life and life insurance regulations with the objective of facilitating the efficient utilisation of capital by insurers and increasing insurance penetration.
There was one day strike in the three Public Sector General Insurance companies on Wednesday. A day before Lok Sabha passed the General Insurance Business (Nationalization) Amendment Bill 2021. The amendment, most importantly, omits section.