 "subhash c khuntia")
The Insurance Regulatory and Development Authority of India (Irdai) has asked insurance firms to make “prudent” decisions when it comes to investing in companies downgraded by credit rating agencies.
Subhash C Khuntia, chairman of Irdai, said that in the case of a downgrade of a company’s rating, it is for insurance companies to take action and decide what to do and how to retrieve the maximum value from their investment. “Normally, when there is a downgrade, insurers should withdraw their investment and place it somewhere else,” Khuntia said on Tuesday, speaking to reporters on the sidelines of the CII Insurance &
