Irdai's Tripathy cautions against practices by brokers to boost valuation

IRDAI's Satyajit Tripathy highlights the need for sustainable growth in the insurance broking industry, cautioning against practices that may harm the sector in the long run

Amid the growing mergers and acquisitions (M&As) in the insurance broking space, Insurance Regulatory and Development Authority of India (Irdai) has cautioned against practices adopted by players in a bid to increase their valuation.

 

According to the insurance regulator, this may be detrimental in the long run.

 

“The regulator is seeing day by day increased activities in this area. While this is fine by all means, I must add a word of caution that with increased growth being seen, we need not be adopting what we call as sharp practices to increase valuation, get listed, and to do