The General Insurance Council is mediating between non-life insurers and Irdai over the regulator’s suggested growth figures, which some companies feel are “hugely stretched targets”.
The Insurance Regulatory and Development Authority of India (Irdai) has circulated “tentative targets” for growth to all insurers to increase insurance penetration. This is the first time Irdai has prescribed premium growth guidelines for individual companies, a move that surprised the industry.
