IRDA issues IPO norms for General Insurers

Insurance Regulatory and Development Authority issued a draft guidelines allowing General Insurance companies to tap the capital market. one of the main conditions is that they should have been in business for at least 10 years.A formal approval has to be requested from IRDA.

The draft norms titled "IRDA (Issuance of Capital by General Insurance Companies) Regulations, 2012" will come into force on the date of their publication in the official gazette.

Some of the other parameters that will be considered when granting approval include insurer's financial position, the capital structure of the Insurer and past regulatory compliance history.

The draft norms can be downloaded from IRDA website at http://www.irda.gov.in/ADMINCMS/cms/frmGeneral_Layout.aspx?page=PageNo1786

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