IRDAI slightly tweaks dividend criteria for investments

Chennai, Aug 21 (IANS) In relief to life and non-life insurers, the Insurance Regulatory and Development Authority of India (IRDAI) on Friday announced slight change in its investment regulations.

Insurers were now permitted to classify investments in preference and equity shares as part of “approved investments” if such shares have paid dividend for at least two out of three consecutive years immediately preceding.

Earlier, the rule was the dividend should have been paid on the preference and equity shares for at least two consecutive years immediately preceding.

This relaxation is, however, only for the period from April 1, 2020 to March 31, 2021.

–IANS

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