Irdai lists LIC, GIC Re, New India as ‘too big to fail’, need enhanced supervision

The Insurance Regulator and Development Authority of India (Irdai) has named three public sector insurance companies — Life Insurance Corporation (LIC), General Insurance Corporation (GIC Re) and New India Assurance – as ‘too big or too important to fail’ (TBTF) institutions or Domestic Systemically Important Insurers (D-SIIs), which will require enhanced regulatory supervision and a higher level of corporate governance.

Read Full Story>>