Insurance Companies To Start Publishing The Financial Data

Large number of insurance clients ask us from time to time about the financial health of different insurance companies : As none of the company is listed on the stock ecxchange therefote it was not possible for a common man to find out which company is financially strong or weak .The good time is coming as the Insurance regulator IRDA will make it mandatory for all insurers to disclose their financial statements to the public, even if they are not planning to get listed on stock exchanges.

Disclosures will apply to both public and private insurers and this was announced by Mr. J Harinarayan, Cahirman IRDA in Hyderabad.

The proposed move will bring in transparency and enable policyholders to gauge the financial strength of insurance firms. It will also help potential investors assess the strength of a company as and when the company plans to launch an initial public offering (IPO).

Currently, insurers furnish quarterly statements to IRDA, but as you know this is not in public domain.

Subscribe to receive free email updates: