Transparency Is Turning Into a Premium Item in the Indian Insurance Sector

Mixed views were expressed by insurance industry experts on the sectoral regulators recent decisions over permitting non-life insurers, foreign reinsurer branches (FRB) and Lloyd’s India never to disclose their underwriting performance or NL 40 statement to the public.

Similarly, the Insurance Regulatory and Development Authority of India (IRDAI) in addition has said foreign reinsurer branches (FRB) and Lloyd’s India need not publish their half yearly and twelve-monthly accounts, analytical ratios in newspapers.

According to IRDAI, it has received representations on rationalization of regulatory compliance needs and has taken action on them.

Transparency is turning into a premium item in the Indian found insurance sector is one view as the contrary view is that wisdom has dawned on IRDAI albeit late.


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