LIC's prudential investment norms at par with private insurers
IRDA Board has brought the Life Insurance Corporation of India's prudential investment norms at par with private insurers.Apnainsurance.com Research Bureau
05 May 2008
The Insurance Regulatory & Development Authority (IRDA)
Board has brought the Life Insurance Corporation of India's (LIC) prudential investment
norms at par with private insurers. LIC had the advantage whereby it could
invest up to 30% of its portfolio in a single company; as against only 10% for
private insurers. With the Board increasing this cap to 25% for private
insurers, they have also reduced LIC's cap to make for a level playing field.
It will be recalled that this largesse had allowed the public sector behemoth
to pick up over 27% in Corporation Bank.
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