IRDA All Set To Give Flexibility For Insurers To Invest In Ipos

Mumbai: The Insurance Regulatory Development Authority is all set to allow insurers more flexibility in investing in highly rated initial public offerings. Initial public offerings (IPO), at present, fall within the ''other than approved'' category and the insurance regulator could now look at making it easier for insurance companies by putting highly rated IPOs within the ''approved'' category of investments. Instruments like mortgage based securities and highly rated infrastructure bonds may also make the cut as approved investment. The Insurance Advisory Committee is likely to meet in January to amend the existing regulation and issue new guidelines.