Edelweiss submits application for general insurance biz

Edelweiss Financial Services said it has submitted an application to insurance regulator IRDAI for entering into general insurance business.

The Insurance Regulatory and Development Authority of India (IRDAI) has accepted the registration application R1 for setting up a General Insurance Company in India, Edelweiss Financial Services said in a regulatory filing today.

The application has been filed by Edelweiss General Insurance Company, a wholly-owned subsidiary.

"This is the first step of regulatory clearances required for carrying on the business as general insurance company in India," it said.