Life insurers relieved; business on as usual

Domestic Life insurance players have heaved a sigh of relief on Monday as the tug of war between two regulators-Irda & Sebi-has been brought to an end, though temporarily, with the intervention of ministry of finance. Finance minister Pranab Mukherjee on Monday said the two regulators have agreed to maintain the status quo that existed before the ban. The status quo will be maintained till a court decides who can regulate Ulip schemes, he said. Reliance Capital, the holding company of Anil Ambani Group s insurance ventures, on Monday said Irda s direction to ignore the Sebi order, which banned 14 companies ...

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