SEBI approves Initial Public Offering norms for Life Insurance sector
The gudelines framed by IRDA are also approved by the Securities and Exchange Board of India (SEBI) and waiting for gazette notification by the government, he told presspersons here.
The insurance regulator has finalised the norms last year which were sent to the market regulator for its approval and they were expecting notification soon, he said.
When asked about the proposal of changes in the Third Party Motor Insurance pool in the general insurance segment, the Chairman said a decision would be taken on the nature and size of pool depending on the balance between demand and supply.
The concept of motor pool was originally conceived when there was demand-supply mismatch, he added.
To a question, the Chairman said the Bank Insurance Committee report on guidelines was under consideration and final view on it will take more time, he said.
The complaints against insurance companies were increasing and 20,000 complaints were received by Ombudsman this year against 10,000 last year, the Chairman added. (UNI -Posted on / )
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