The Insurance Regulatory and Development Authority (IRDA) is not keen to increase the equity investment cap for private insurers. At present, the equity investment cap for private insurers is 10%, Radhakrishnan Nair, member (finance & investment) of IRDA, said.
A revision in limit can only be facilitated if there is a change in the Insurance Act, Mr Nair added.
Mr Nair was speaking on the sidelines of a Ficci-BOAO Forum for Asia on 27th November.
According to a notification by the finance ministry, Life Insurance Corporation of India (LIC) has been allowed to invest up to 30%.