 "Insurers may prefer bond")
Several major private life and general insurance companies, directed to submit draft plans for public listing on Indian stock exchanges, have requested an extension from the Insurance Regulatory and Development Authority of India (Irdai) until 2027, according to sources familiar with the matter.
“The private insurance companies have informed Irdai they need time until 2027 to submit their public listing plans, as India will fully adopt the International Financial Reporting Standards (IFRS) 17 in 2026,” said one source.
Irdai has proposed implementing Indian Accounting Standards (Ind AS) 117 — the Indian equivalent of IFRS 17 — from April 1, 2026.
