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In what is being seen as the first-of-its-kind initiative, the Insurance Regulatory and Development Authority of India (IRDAI) has called a meeting of the chairpersons of boards of all insurance companies.
The meeting, which will be chaired by IRDAI Chairman Subhash Chandra Khuntia, will be held on February 18.
“The invitation for the meeting has been sent exclusively to all chairpersons of the board of insurance companies.
“None of the CEOs have been invited,” said two persons familiar with the development, adding that as such no agenda has been sent for the meeting.
“It seems to be more of an introductory meeting as usually the chairpersons do not attend industry interactions with the regulator,” said one of the sources, however, noting that this is the first time that the IRDAI has invited the chairpersons.
However, the other source said this could be an indication that the regulator wants more interaction and involvement of the chairpersons in their respective insurance companies.
At present, there are 24 life insurance companies and more than 30 general insurance companies in the country.
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