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Irdai working group recommends relaxing investment norms for insurers

The panel has suggested having a single limit of expenses over and above the monitoring of solvency and enterprise level expense limit

Irdai in talks with insurance firms hit by govt's mega PSB merger drive
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Nikunj Ohri New Delhi
A panel formed to suggest overhaul of the general insurance industry has recommended that insurers relax investment rules, such as permitting investment in Additional Tier-1 (AT-1) bonds of banks, removing the criteria of equity investments only in dividend yielding companies, and increasing investments in infrastructure sector through banks.

The panel’s report has been submitted to the Insurance Regulatory and Development Authority of India (Irdai), and is being reviewed by the regulator, said an official. The panel included representatives from Irdai and chiefs of non-life insurance companies.

The committee has suggested allowing insurers to invest in AT-1 perpetual bonds of banks