Final norms for reinsurers soon: IRDA

Insurance Regulatory and Development Authority (IRDA) plans to bring out final guidelines on reinsurers by October, according to chairman TS Vijayan.

“About seven to eight companies have shown interest in licence to begin reinsurance operations. We are working on the guidelines and hope to bring out final guidelines by October,” Vijayan said on the sidelines of the CII Insurance Summit.

As far as investment by United Linked Insurance Plan (ULIPs) is concerned in government securities, Vijayan said that the insurance regulator is working on bringing out final guidelines in this regard by the end of this year.