Life insurers asked to submit data: IRDA

The sectoral regulator IRDA has asked life insurance companies to submit data for the last four years to the Insurance Information Bureau (IIB) so that it could prepare standardised reports relevant to the industry.

 

The data should be submitted in the prescribed format from the year 2010-11 to 2013-14 before December 15, 2014, Sriram Taranikanti, Executive Director, IRDA said.

 

In addition, the insurers would need to submit data for the periods ending September and March of each financial year within a period of one month from the last day of respective month.

 

It may be noted that the Bureau would also undertake other analytics work including those sought by the Authority and also the insurance industry from time to time,” the circular said.