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Insurance regulator IRDAI slaps Rs 20 lakh fine on ICICI Prudential Life
28-Mar-2017 (16:55)
Tata AIA Life Insurance ties-up with Tata Teleservices to launch m-Insurance
28-Mar-2017 (09:37)
Canara HSBC OBC Life Insurance to expand business
27-Mar-2017 (09:35)
SBI Life insurance set to enter Bahrain in next financial year; to focus on NRIs
27-Mar-2017 (09:30)
SBI to dilute 10% stake in life insurance venture through IPO
25-Mar-2017 (09:47)
Insurance companies must play active role in investee firms' meetings: Irdai
24-Mar-2017 (09:36)

The insurance regulator has asked companies to play an active role in the general meetings of investee companies and engage with the management at a greater level to improve governance so as to increase returns on investments for insurers.

"Insurance companies are significant institutional investors in listed companies and the investments are held by them as custodians of policyholders. Therefore, it is felt that insurance companies should play an active role in general meetings of investee companies and engage with the managements at a greater level to improve their governance. This will result in informed decisions by the parties and ultimately improve the return on investments of insurers." Insurance Regulatory and Development Authority (Irda) stated in a circular titled 'Guidelines on Stewardship Code for Insurers in India'.

This will be applicable from next financial year.

The regulator said the state of governance at the companies where insurance companies have invested is important. It has also laid out a set of principles, which insurers will have to adopt. The principles are being uniformly adopted for institutional investors like mutual fund, pension funds, foreign portfolio investors and alternate investment funds.

Irda has also decided to implement a code of stewardship for insurers. The regulator said all insurers need to draw up a policy based on principles spelt out in stewardship code within six months from date of issue of these guidelines and the board of directors should approve the same.

Globally, companies are required to say which are the companies they have voted for and against in general meetings and disclose their stance.
Insurance regulator IRDAI asks insurers to disclose voting policy
23-Mar-2017 (09:40)
Government considering 100 per cent FDI in insurance broking
22-Mar-2017 (09:41)
Paytm offers insurance cover for mobile wallets
21-Mar-2017 (09:33)
Insurance regulator IRDAI allows insurers to invest in REITs & InvITs
17-Mar-2017 (09:38)
SBI Life Insurance to take decision on stake dilution likely in Q1 of FY18
16-Mar-2017 (09:31)
GIC, New India Assurance to be listed before October
13-Mar-2017 (09:39)
LIC Visakhapatnam division tops south central zone
12-Mar-2017 (09:33)
IRDAI issued new norms for selling insurance online
12-Mar-2017 (09:27)
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