New Delhi: The insurance regulator plans to issue about a dozen licences this year, building on last year’s momentum when three companies got insurance licences in life and non-life segments after more than a decade.
Nearly 20 applications are awaiting approval with the Insurance Regulatory and Development Authority of India (Irdai), which has now set up a dedicated facilitation cell to support the registration application of companies and is providing on-tap no-objection certificates to fast-track approvals, an official familiar with the development said.
About a dozen of these applicants may get a final nod to start insurance operations this year, the official said, requesting anonymity.
In an emailed response, Irdai chairman Debasish Panda said that the business environment is favourable and conducive, and investors are attracted to the insurance sector, a sentiment underscored by the interest in new licences.
“Few more applicants are in the pipeline at various stages of fulfilling the criteria for registration. These applicants are supported by dedicated facilitation cells of Irdai," Panda said, without giving out the names of entities seeking insurance licences from the regulator.
Bu hikaye Mint Mumbai dergisinin May 19, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin May 19, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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