Ir­dai Gets 5 Ap­pli­ca­tions for Non-life, Rein­sur­ance Busi­ness

The Economic Times - - Markets: Beating Volatility -

The In­sur­ance Reg­u­la­tory and De­vel­op­ment Au­thor­ity of In­dia (Ir­dai) has re­ceived three ap­pli­ca­tions for non-life busi­ness and two from rein­sur­ance com­pa­nies to start op­er­a­tions in In­dia.

Cur­rently, there are 24 com­pa­nies each in life and non-life in­sur­ance spa­ces. Be­sides, there are six stand­alone health in­sur­ers and eight rein­sur­ance compa- nies in the coun­try.

How­ever, there is no ap­pli­ca­tion pend­ing for any new life in­sur­ance com­pany with the in­sur­ance reg­u­la­tor at present, a se­nior Ir­dai of­fi­cial said.

Ir­dai has not re­ceived ap­pli­ca­tion from any new life in­sur­ance com­pany so far, said mem­ber (life, fi­nance and ac­counts) Nilesh Sathe. — PTI

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