 "Insurers allowed exposure to fin, insurance upto 30% of investment assets")
The Insurance Regulatory and Development Authority of India (Irdai) on Friday permitted insurance companies to have exposure to financial and insurance activities upto 30 per cent of investment assets.
“The authority in exercise of its powers conferred under Regulation 14(2) of the IRDAI (Investment) Regulations, 2016, permits all insurers to have exposure to financial and insurance activities (as per section K of NIC classification) up to 30 per cent of investment assets,” the insurance regulator said in a statement.
Accordingly, the limit of 25 per cent of investment assets stands revised to a limit of 30 per cent of investment assets.
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