The brief
- IRDAI proposals call for LIC and SBI Life to improve cost efficiencies
- Guidelines propose lowering insurers’ expense of management
- Cost-efficiency requirements may pressure LIC and SBI Life expenses while reshaping Indian life insurers’ operations
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IRDAI’s proposed insurance distribution reforms
IRDAI proposed phased cuts to insurers’ expense limits, commission caps and a ban on compulsory insurance bundling with loans. The proposals triggered sharp falls in insurance stocks, while insurers sought a glide path on commissions and differentiated expense limits; IRDAI also called for LIC and SBI Life to improve cost efficiency.
Monday, 28 September
- IRDAI pushes LIC, SBI Life to seek further cost efficiency