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ICICI Pru Life, Edelweiss execute SLBS trades in insurance

The trade follows a recent circular by IRDA, allowing life insurance companies to participate in the SLBS scheme

August 26, 2013 2:05 IST | India Infoline News Service
ICICI Prudential Life Insurance and Edelweiss Securities have executed the first trade in securities lending and borrowing scheme (SLBS) in the insurance sector in India on the NSE (National Stock Exchange).

The trade follows a recent circular by the Insurance Regulatory and Development Authority, allowing life insurance companies to participate in the SLBS scheme.

Puneet Nanda, executive director, icici Prudential Life, said, “Life insurance companies are long-term investors and the new IRDA regulation has opened up an avenue to generate additional yield. This, we believe, will enable us to provide even better risk adjusted returns to our policyholders”.

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and UK-based Prudential Plc.

Edelweiss is an Indian company that provides a broad range of financial products and services to corporations, institutions and individuals.

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