Tuesday, March 04, 2025 | 06:44 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Irdai may limit insurance companies' overdependence on parent banks

Irdai also plans to encourage diversification across multiple distribution channels to ensure balanced growth across the industry

Irdai may limit insurance companies' overdependence on parent banks
Premium

Illustration: Ajay Mohanty

Aathira Varier Mumbai

Listen to This Article

The Insurance Regulatory and Development Authority of India (Irdai) is likely to bring in regulations to limit the overdependence of life insurance companies on their parent banks for business sources through bank channels, sources said.
 
Irdai also plans to encourage diversification across multiple distribution channels to ensure balanced growth across the industry. Although the companies can continue to focus on certain channels where they have strength, diversification would be an ideal, sources added.
 
If insurance companies have the strength of a parent bank, they should use it. However, the companies should not continue using it for a long time. The

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in