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IRDA releases guidance note on preparation of investment returns

According to this note, all periodical returns are required to be filed with IRDA within 30 days from the end of the quarter

May 09, 2013 11:53 IST | India Infoline News Service
The Insurance Regulatory and Development Authority (IRDA) on Wednesday has released a guidance note on preparation of investment returns, wherein detailed procedure for it has been given.

The assets under management (AUM) increased to around Rs 17.83 trillion in 2013 from Rs. 2.91 trillion in the year 2000.

To keep up with this growth in funds, IRDA has proposed the systems and processes, should keep pace.

To ensure compliance with regulations, all insurers are expected to put in place a proper system for the preparation of periodical returns to be filed with IRDA.

According to this note, all periodical returns are required to be filed with IRDA within 30 days from the end of the quarter.

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