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LIC reduces 2.14% stake in Tata Global Beverages, sells 1.35 crore shares
18-Jul-2017 (15:42)
SBI Life Insurance files DRHP for IPO to raise Rs 7,000 crore
18-Jul-2017 (09:39)
HDFC Standard Life Insurance to launch IPO; puts merger with Max Life on hold
18-Jul-2017 (09:32)
SBI Life, second life insurer to go public, to issue up to Rs 12 crore shares
17-Jul-2017 (21:31)
IRDAI asks insurers to collect Aadhaar details of insurance agents to check duplication
17-Jul-2017 (09:33)

Insurance Regulator Irdai has asked insurance companies to collect Aadhaar, the 12-digit unique identity, of their agents for the creation of an online database in order to eliminate duplications. The Insurance Information Bureau of India (IIB) will house the database.

The regulator said the creation of the database started with the issuance of Point of Sales person guidelines.

The purpose was de-duplication of POS enrolled by insurers and insurance intermediaries, said the Insurance Regulatory and Development Authority of India (Irdai).

Therefore, the Aadhaar number was taken as the unique identifying field to remove duplication, it said.

Going forward, the regulator said, it was viewed that the same logic could be extended to insurance agents and trained and qualified persons of insurance intermediaries that would include broker, qualified persons with Aadhaar number as the unique identifying field.

Further, Irdai is of the view that such a portal should be developed and housed in IIB as it has successfully demonstrated the understanding and capabilities in developing the POS portal.

The IIB has been asked to develop the portal for uploading the Aadhaar number and other details of insurance agents on the lines of POS, the Irda said.

"The insurers are therefore advised to collect the same so as to be ready to upload the necessary information on the date to be communicated by the Authority in due course," it said.

The portal will also be available to insurance intermediaries. The insurance intermediaries have also been asked to collect the Aadhaar number and other details of trained and qualified persons of insurance intermediaries so as to be ready to upload the necessary information.
LIC trims 2% of its stake in Mahindra & Mahindra, brings it down to 10%
15-Jul-2017 (19:20)
Life insurers' June month premium up 13% at Rs 14,466 crore
14-Jul-2017 (17:35)
Nippon Life Insurance completes acquisition of 49% stake in Reliance Nippon Life
14-Jul-2017 (09:50)
Life Insurance companies new business premium income up 6% in June FY17
13-Jul-2017 (18:29)
SBI Life Insurance gets final approval for IPO from SBI central board
11-Jul-2017 (09:47)
Insurance sector needs comprehensive over-haul: says Report
09-Jul-2017 (12:43)
Looking at 'alternatives' to complete insurance business merger deal: HDFC
08-Jul-2017 (09:52)
SBI Life Insurance gets Irdai nod for IPO
07-Jul-2017 (13:57)
Insurance regulator IRDAI directs insurers to comply with FEMA rules on options
07-Jul-2017 (09:53)
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