Regulator has asked insurance companies to file periodical report on compliance to investment guidelines from quarter ending March 2017. This follows notification of Insurance Regulatory and Development Authority of India (Investment) Regulations, 2016.
“As the Regulations mandate certain systems and process to be put in place, the IRDAI (Investment) Regulations, 2016 shall be effective from March 31, 2017. Thus, Insurers shall report compliance to IRDAI (Investment) Regulations, 2016 in the regulatory periodical submissions from quarter ended March 31, 2017,” the regulator said.