BackSebi issues disclosure norms for listed insurance companies
Sebi said insurance companies will have to submit disclosures pertaining to financial results and capital employed for quarters ending 30 September and 31 December 2016
Premium
New Delhi: The Securities and Exchange Board of India (Sebi) on Monday came out with norms for listed insurance companies in disclosing their quarterly results, less than a month after the first-ever listing of an insurer.
The decision by Sebi was taken in consultation with Insurance Regulatory and Development Authority of India (IRDAI).
ICICI Prudential Life Insurance made its stock market debut on 29 September. becoming the first insurer to list on the Indian bourses. The company raised over Rs6,000 crore through its initial public offering.
In a circular, Sebi said insurance companies (life and non-life) will have to submit disclosures pertaining to financial results, segment-wise revenue and capital employed for quarters ending 30 September 2016 and 31 December 2016 in the format as specified by IRDAI.
With respect to the format for newspaper publishing purpose (standalone/consolidated), the insurance companies would follow the format specified by Sebi. Besides, additional disclosures should be made as prescribed by IRDAI.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
