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In December 2021, the Insurance Regulatory Development Authority of India (IRDAI) declared three insurance companies to be identified as Domestic Systemically Important Insurers (D-SIIs) for 2021-22. which of the following company is not on the list?

In December 2021, the Insurance Regulatory Development Authority of India (IRDAI) declared three insurance companies to be identified as Domestic Systemically Important Insurers (D-SIIs) for 2021-22. which of the following company is not on the list? Correct Answer Bajaj Allianz Life Insurance Co. Ltd

The correct answer is Bajaj Allianz Life Insurance Co. Ltd.

Key Points

  • Life Insurance Corporation of India, General Insurance Corporation of India and New India Assurance have been identified as Domestic Systemically Important Insurers (D-SIIs) for 2021-22 by the Insurance Regulatory Development Authority of India (IRDAI).
  • D-SIIs are perceived as insurers that are ‘too big or too important to fail' (TBTF).
  • D-SIIs refer to insurers of such size whose failure would cause dislocation of the financial system.

Additional Information

  • The Life Insurance Corporation of India has launched a new non-linked, non-participating, individual savings life insurance plan called Dhan Rekha.
  • It offers special premium rates for female lives in December 2021.
  • Insurance Regulatory Development Authority of India:
    • Founded in: 1999
    • Headquarters: Hyderabad
    • Chairperson: Subhash Chandra Khuntia
  • Life Insurance Corporation of India (LIC) has received approval from the Reserve Bank of India to increase its stake to 9.99 per cent in IndusInd Bank of the total issued and paid-up capital of the private sector lender in December 2021.
  • The Reserve Bank of India (RBI) has given its approval to Life Insurance Corporation (LIC) to raise its stake in private lender Kotak Mahindra Bank to 9.99 per cent in December 2021.

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