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Financial position to be considered before listing approval
The Insurance Regulatory and Development Authority of India ( Irdai) said for a public issue of shares by health, reinsurance and non- life insurers, they will consider the applicant company’s overall financial position, its regulatory record and its capital structure post issue, prior to giving approval.
In its draft guidelines on issue of capital by non- life insurers, reinsurers and standalone health insurers, Irdai said it may direct an Indian insurance company transacting the non- life insurance business or standalone health insurance business or reinsurance business to go for public issue if the circumstance so warranted.
The period for which the applicant company has been in the non- life insurance business or in standalone health insurance business or in reinsurance business, will also be taken into consideration.
Its record of policyholder protection will also be looked into.
Business Standard, New Delhi, 28th Sept. 2015