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The Guidelines on Anti-Money laundering /Counter Financing of Terrorism (AML/CFT) were issued under Section 34 of the Insurance Act, 1938 on 31st March 2006. The Guidelines were made applicable to general insurance companies in the modified form effective from 1st January 2007. Read more
Attention is drawn to clause 3.1.1 (iii) of IRDA Circular reference IRDA/F&I/CIR/AML/158/09/2010 dated 24th September 2010 on AML/CFT guidelines (the Master Circular 2010) which requires insurers to identity and verify the beneficial owner to an insurance contract. Read more
The Chairman/CEOs of all the insurers
December 27, 2012 Read more
In a bid to develop the corporate bond market, insurance companies may be allowed to invest for a shorter period in infrastructure bonds. Also, these firms, along with mutual funds, may be permitted to act as market makers in the bond market. Read more