General insurers can double their investment in liquid MFs: IRDA

Wednesday 06, November, 2013 Now, general insurers will be allowed to invest an additional 1.5% i.e. Rs. 35 billion. However, the relaxation is temporary After repeated request from the mutual fund association, the Insurance Regulatory and Development Authority (IRDA) has decided to double the investment limit in liquid mutual funds for general insurance companies, according to a media report. At present, general insurers are permitted to invest 1.5% of assets into liquid mutual funds under the approved investment category where the size of the fund is above Rs. 20 billion, the report added. Now, general insurers will be allowed to invest an additional 1.5% i.e. Rs. 35 billion. However, the relaxation is temporary, the report further said. General insurance industry manages assets worth around Rs. 2.5 trillion.

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