Insurance regulator asks private life insurers to clarify their stance.
IRDA has asked the CEOs of HDFC Life Insurance, ICICI Prudential Life Insurance and Max Life Insurance to clarify their roles into the matter and also instructed them to submit the relevant data at the earliest.
A few days back, the news website cobrapost.com had reported the alleged involvement of bank officials in routing black money with the help of financial systems including insurance, multiple accounts opening in banks etc.
IRDA, in a press release said, “in response to the reports of sting operation conducted by Cobrapost.com alleging money laundering, the Insurance Regulatory and Development Authority has immediately taken up the matter with the CEOs of HDFC Life Insurance Co. Ltd., ICICI Prudential Life Insurance Co. Ltd. and Max Life Insurance Co. Ltd. In this regard, the Authority has also called for relevant data for initiating appropriate action.”