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Hyderabad, Dec. 6

The Insurance Regulatory and Development Authority (IRDA) has asked all insurance companies to furnish the details of investments made by them during the last three months.

“In the light of changing macro-economic climate and risk parameters, there is an urgent need to be cautious with reference to investment of funds, in general, and policyholders’ funds, in particular,” it said in a circular.

As the “safety and prudence as enshrined in the recently amended Investment Regulations should be ensured” it asked all the insurers to declare all investments (other than Government of India securities) made during September, October and November on or before December 15.

Further, the insurers are also required to file with the Authority internal norms to be adhered by the investment department in approving debt/debenture/equity/loan/other investments, as approved by the board or investment committee before December 8.

More Stories on : Insurance | Investments | Regulatory Bodies & Rulings

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