Insurance | Insurers | Insurance companies
Subhomoy Bhattacharjee |
Last Updated at June 17, 2022 22:52 IST
In a span of three months since taking over, Debasish Panda, the new chairman of the Insurance Regulatory and Development Authority of India (Irdai) has issued a flurry of orders, significantly relaxing rules for all types of insurance companies to operate in India. At an average of one order per week, he has reduced the number of returns these companies have to file every month to four from the existing 40-odd, done away with prior approvals to launch new products and eased capital requirements, especially for entering government-run insurance products that offer vast opportunities to grow. Most importantly, he has held out the carrot of a possible 100 per cent foreign direct investment in the underwriting business, against the present 74 per cent.
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First Published: Fri, June 17 2022. 18:02 IST
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