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International

Indian insurer gets extended timeframe to meet solvency margin

June 07, 2017 Reprints

India-based National Insurance Co. Ltd. has been given time till March 31, 2019 to shore up its solvency ratio to 150% by the Insurance Regulatory and Development Authority of India, Money Control reported.

National Insurance's officials said that the insurer will have a 150% solvency margin for the financial year ended March 31, the results of which will be announced soon.

As per IRDAI norms, solvency has to be maintained at 150% before an insurer sends a listing proposal for approval.

National Insurance's solvency stood at 131% for the quarter ended December 31, 2016.

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Indian insurer gets extended timeframe to meet solvency margin

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