IRDA rebuffs Sebi attempt to regulate investment-linked insurance
It took India’s insurance regulator one sentence to dash hopes in the mutual-funds industry of a turnaround for dire equity product sales volumes.
India's Insurance Regulatory and Development Authority (IRDA) has dismissed an attempt by the Securities and Exchange Board of India (Sebi) to have a say in how unit-linked investment policies (Ulips) are regulated.
In a one-sentence announcement from chairman J Hari Narayan on Saturday (April 10), IRDA says: "Policyholders of [Ulips] offered by different insurance companies are assured that these policies are safe and secure and the matters arising out of the recent orders of [Sebi] …
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