Revised initial public offering (IPO) guidelines will be issued soon for insurers as some of them are keen to use this route to raise funds, the Insurance Regulatory and Development Authority of India (IRDAI) chairman T.S. Vijayan said while notifying that the total foreign investment in sector was Rs.15,000 crore in the last one year due to increase in the foreign direct investment limit.
Vijayan said a total investment came to India in various forms, mostly equity, since the passage of the Insurance Laws (Amendment) Bill in March 2015. “Business has been good for all insurance companies in April. If this trend continues, we can expect higher growth in financial year 2016-17 also in life, non-life and health,” Vijayan told reporters.