, India
Stock photo. Credits to Unsplash.

IRDAI to push government to allow insurers to invest in unlisted companies

The move could unlock new funding avenues for startups in the country.

The Insurance Regulatory and Development Authority of India (IRDAI) is urging the government to allow insurers to invest in unlisted companies.

ALSO READ: Higher insurance claims lead to underwriting pressure for APAC reinsurers

Under the proposal, insurers may be allowed to buy over 10% of unlisted without approval from the regulator, according to a report by Reuters citing sources.

Currently, IRDAI does not allow insurers to invest in unlisted entities without its permission.

The move could potentially unlock new funding avenues for startups in India.

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