Insurers' compulsory listing plan put in cold storage
The Insurance Regulatory Development Authority of India may not want insurance companies to list themselves in stock exchanges after a push from the Finance Ministry.
In an interview with Business Standard, IRDAI Chairman, TS Vijayan said: “We had never insisted on it (listing). It is only a discussion paper and should be seen in that perspective.”
In a discussion paper released this August, the insurance regulators gave companies - 55 life and non-life insurance companies in India - a little less than a month to respond to its suggesion on the need for them to list.
However, following the discussion paper, a lot of insurers have met with the Finance MInistry seeking its support in putting IRDAI plan in a cold storage.