IRDAI Identifies LIC, GIC, New India Assurance Systemically Important Insurers

Regulator IRDAI has identified LIC, GIC and New India Assurance as domestic systemically important insurers (D-SIIs) and subsequently decided to subject them to enhanced regulatory supervision. The three insurers have also been asked to raise the level of corporate governance, identify all relevant risks and promote a sound risk management culture, the Insurance Regulator and Development Authority of India (IRDAI) said in a statement.

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