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Report No. 190 Provisions relating to investments 9.1.11 The Consultation Paper had sought to make suggestions in regard to the provisions concerning investments, loans and management. This in turn entailed an understanding of what should be designated as 'approved securities' for the purposes of investment of funds by the insurers, what should be the "Solvency Margin" to be maintained by insurers. The relevant provisions of the Insurance Act, 1938 are sections 27, 27A and 27B and section 64 VA. Although, the Commission has received a variety of responses to the proposals made in the Consultation Paper, there has been no response from either the Central Government or the IRDA. We should have received a more detailed and adequate response to enable the Commission to make recommendation.    |
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