IRDA Puts on Hold Mandatory Listing of Insurance Firms

The Insurance Regulatory and Development Authority of India (Irdai) on Thursday released a discussion paper on listing of Indian insurance firms.
●    The Irdai proposed that insurance firms having completed eight years of operations in case of general and reinsurance, and 10 years of operations in case of life insurance, can go for mandatory public listing.
●    As per the regulatory framework in place, a insurance company can get its shares listed through an offer-for-sale or through a public issue for meeting capital requirements.
●    All life insurance firms shall take steps to get their shares listed on completion of 10 years of operations, it said, adding all companies which have already exceeded the number of years of operations shall initiate steps to ensure that they get their shares listed within three years from the date of issue of directions under these guidelines.