Insurers may continue to classify investment in Preference and Equity shares as part of “Approved Investment” subject to such shares paying dividend for two out of three consecutive years; applicable from 1st April, 2022 to 30th September, 20
The Insurance Regulatory Development Authority of India (“IRDAI”) has extended the relaxation offered to insurance companies to continue classifying investments in ‘Preference Shares’ and ‘Equity Shares’, as per of “Approved Investment”, provided that dividend is paid on such shares “for at least 2 years out of 3 consecutive years immediately preceding” as per the provisions of IRDAI (Investment) Regulations, 2016 for the period from 1st April, 2022 to 30th September, 2022.
For a detailed read, please refer to the attached Order.
Source: Insurance Regulatory Development Authority of India
