IRDA encourages insurance companies to total transparency

India’s regulatory authorities (IRDA) believe it is high time for all insurance companies with more than ten years of experience to get listed, a move designed to pave the way for these companies to raise capital. It is also meant to exhibit total transparency vis-à-vis shareholders and the public.

As far as IRDA is concerned, opacity surrounding Indian insurance has been detrimental to its reputation. Insurance companies not having the possibility to get listed should come to grips with the prospect of merging with competitors. The market was opened up for private insurers in 2000. Today, 54 companies are operating on the market, 32 of which for at least eight years now.

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