Insurance sector remains attractive for investment: TS Vijayan

The insurance industry remained attractive for many investors, though several insurance companies were still making losses and the sector needed lot of trained personnel to cope up with growth, TS Vijayan, chairman of the Insurance Regulatory and Development Authority, said on Wednesday. The insurance watchdog said the foreign direct investment limit would be fixed by the government and Irda's job was to ensure that regulations were followed by companies. "Insurance is attracting the attention of the general public and investors are ready to put money," Vijayan said on the sidelines of a programme by the Indian Institute of Risk Management. Citing the example of Life Insurance Corporation of India, Vijayan said the government's capital infusion into the company was only Rs 5 crore in 1956 when it was started.