IRDAI vide reference no. IRDAI/F&I/CIR/INV/81/04/2022 has issued a Circular on ‘Exposure of Insurers to Financial and Insurance Activities’ dated April 29, 2022 (Circular)
Major highlights of the Circular are as follows:
- The Circular draws reference of the Note 8 of the Regulation 9 of IRDAI (Investment) Regulations, 2016 pertaining to the exposure limit for financial and insurance activities which is presently 25% of the investment assets for all insurers.
- IRDAI has now revised the aforementioned limit and permitted all insurers to have exposure to financial and insurance activities (as per Section K of NIC classification) up to 30% of investments assets.
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