Indian life insurers will not have to first achieve
profitability before embarking on a capital raising exercise
through an initial public offer (IPO), the country’s Insurance
Regulatory and Development Authority (IRDA) has ruled.
The IRDA has deemed the main
prerequisite for an IPO will be that an insurer’s embedded value is
at least two times its paid-up equity capital. This approach has
also received the approval of market regulator, the Securities and
Exchange Board of India.
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According to industry body
the Life Insurance Council, the task of formalising the methodology
to be used in calculating the embedded value of an insurer has been
assigned to the Institute of Actuaries of India.
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