Insurance watchdog IRDA today said the final guidelines to allow life insurance companies to raise funds from the capital market will be out by this month-end.
IRDA Chairman J Hari Narayan said that with regard to life companies, the work on IPO guidelines is more or less complete and we would be going for gazetting the same as regulation very shortly, perhaps toward the end of this month.
For life companies, the clause mandating a three-year track record of profitability as a precondition for tapping the capital markets has been removed in the draft guidelines, he said.
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