IPO norms for non-life players this week
7 Aug 2012 6:44 AM IST
Insurance Regulatory Authority of India (IRDA) chairman J Harinarayan on Monday said the authority will issue the draft public float guidelines for general insurance companies within a week.
‘All things have been finalised and we may come out with the IPO (initial public offering) norms for general insurers in another week,’ the IRDA chairman said..
Earlier, the market regulator SEBI had approved the draft IPO draft guidelines for non-life insurance companies.
Meanwhile, despite nearly a year after the final listing guidelines were issued for life players, none of the 10-odd players who are eligible for public float have got listed so far.
On the draft guidelines for life product designs, Harinarayan said, ‘We will come out with the draft on life products design by the end of the month.’
The IRDA also released the exposure draft on investment norms relating to swaps, hedging and equity exposure for the industry players.
However, he did not give a timeline saying the regulator is working on draft for senior agents, but cannot give a time-line for it.
On lesser availability of annuity plans, he said at present LIC is the major player in the segment, that amounted to high concentration risk.
‘All things have been finalised and we may come out with the IPO (initial public offering) norms for general insurers in another week,’ the IRDA chairman said..
Earlier, the market regulator SEBI had approved the draft IPO draft guidelines for non-life insurance companies.
Meanwhile, despite nearly a year after the final listing guidelines were issued for life players, none of the 10-odd players who are eligible for public float have got listed so far.
On the draft guidelines for life product designs, Harinarayan said, ‘We will come out with the draft on life products design by the end of the month.’
The IRDA also released the exposure draft on investment norms relating to swaps, hedging and equity exposure for the industry players.
However, he did not give a timeline saying the regulator is working on draft for senior agents, but cannot give a time-line for it.
On lesser availability of annuity plans, he said at present LIC is the major player in the segment, that amounted to high concentration risk.
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