IRDAI rejects insurance broking application of India Infoline Group company
17-November-2021
Insurance regulator IRDAI has rejected the application of 5Paisa
Insurance Brokers Ltd for a certificate of registration to act as life
and non-life insurance direct broker.
Rejecting the application
of 5Paisa Insurance filed in 2019, the Insurance Regulatory Development
Authority of India (IRDAI) said on Wednesday that only single
registration can be given to one corporate group.
The IRDAI said
5paisa Insurance is part of the India Infoline Group, which already has a
direct insurance broking company -- IIFL Insurance Brokers Ltd.
According
to IRDAI, the promoters and ultimate beneficial owners/shareholders of
5Paisa Insurance and IIFL Insurance Brokers are one and the same, and
both are related parties of IIFL Group and associate companies.- IANS
- 0
-
-
-
-
WhatsApp may soon let users pin messages within chats, group
Karnataka Cong swings into action; chief says party will 'comfortably win' polls
'Government has nothing to do with Adani issue,' says Pralhad Joshi
S&P Global revises Adani Electricity, Adani Ports ratings to 'negative'
Amid Adani group row, RBI says banking sector remains resilient
.webp "110,000 more users affected in 'LG Uplus' data breach")