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  • Insurance ‘Quarterly NAV of ULIPs should be declared on last day even if it is a holiday’

    ‘Quarterly NAV of ULIPs should be declared on last day even if it is a holiday’

    IRDAI has asked life insurers to declare quarterly NAV even on a non-business day.
    Team Cafemutual Dec 28, 2022

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    IRDAI has clarified that the life insurance companies will have to declare quarterly NAV of ULIPs on the last day of each quarter, even if it falls on a non-business day.

    In a circular, IRDAI said, “It is clarified that life insurers can declare NAV on last day of each quarter, even if it is a non-business day, to sync the published NAV of a quarter end non-business day with the NAV as per the financials of ULIP funds on that day.”

    Currently, as a market practice, most life insurers declare their NAV on a daily basis to make it competitive to MFs.

    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

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