The Insurance Regulatory and Development Authority of India (Irdai) has requested that insurance agency go for listing to improve their access to capital, its Chairman Debasish Panda said on Thursday.
The posting will help insurance players to raise capital for developing their business and furthermore extending the insurance penetration in the country, he said.
We are asking insurance companies to go for listing to ensure that they can have access to the administrative centre. Today, with the LIC’s listing, near 60 per cent of the marketplace gets listed.
“That brings in a whole lot of transparency, disclosures and usage of the market to raise capital. This will help them grow and our ultimate target of deepening insurance penetration may happen,” Panda, who took over the charge of Irdai Chairman last month, told reporters.