insurence exam LIC AAO Mock Test 2023 Current Affairs Business and Economy Economic and Financial Affairs
Which of the following points is ‘Incorrect’ with respect to the amendments of the Insurance Regulatory and Development Authority of India (IRDAI) in November 2022, for registering insurance companies and investing in them?
1
Private equity (PE) funds can now directly put in money in insurance companies, and investment by them through special purpose vehicles (SPVs) has been made optional
2
Corporate agents will be allowed to tie up with 9 insurers (up from three) & insurance marketing firms can distribute products of 6 insurers (up from two) in each line of Life, General, and Health insurance
3
The solvency ratio was reduced from 0.50% to 0.20% for unit-linked plans of life insurers and from 0.20% to 0.15% for Pradhan Mantri Jan Dhan Yojana (PMJDY).
4
Promoters will be allowed to dilute their stake down to 26% on condition that the insurer has a satisfactory solvency record for the preceding 5 years and is a listed entity
5
A single investor taking 25% in an insurance company will be classified as an investor and any investment more than that will make it a promoter.