Markets regulator Sebi Monday came out with norms for
listed insurance
companies in disclosing their quarterly outcomes,
under
a month after
the first-ever listing of an insurer. The decision
was taken in consultation with Insurance
coverage Regulatory and Advancement
Authority of India (IRDAI). ICICI Prudential Life
Insurance
manufactured
its stock industry
debut on September 29. getting
to be the
initial insurer to listing
over
the Indian bourses. The company
raised over
Rs 6,000
crore by
its original
public supplying.
Within a circular, Sebi stated that insurance firms (lifestyle and non-life) will have to submit disclosures pertaining to financial final results, segment-wise income, benefits and capital employed for quarters ending September 30, 2016 and December 31, 2016 during the format as specified by IRDAI.
With respect to the format for newspaper publishing goal (standalone/consolidated), the insurance companies would follow the format specified by Sebi. Apart from, more disclosures should really be produced as prescribed by IRDAI.
