Irdai simplifies rules to set up insurance firms
Business Standard|November 26, 2022
The Insurance Regulatory and Development Authority of India (Irdai) on Friday approved amendments to rules on registering insurance companies and investing in them.
SUBRATA PANDA
Irdai simplifies rules to set up insurance firms

Private equity (PE) funds can now directly put in money in insurance companies, and investment by them through special purpose vehicles (SPVS) has been made optional, thus providing flexibility.

This has been a long-standing demand of PE players looking to invest in insurance.

Under the current guidelines, to invest in insurance companies as "promoter", a PE fund can do so only through an SPV.

But if the PE fund is investing in an insurance company as "investor", it can do so directly or through an SPV.

Further, the regulator has said a single investor taking 25 per cent in an insurance company will be classified as "investor" and any investment more than that will make it a "promoter".

Under the current guidelines, the threshold for being "promoter" as a single investor is more than 10 per cent.

This story is from the November 26, 2022 edition of Business Standard.

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This story is from the November 26, 2022 edition of Business Standard.

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