To
All Insurers Sub: - Investments made during Sep 2008, Oct 2008 and Nov 2008 - Reg. In the light of changing macroeconomic climate and risk parameters, there is an urgent need to be cautious with reference to investment of funds in general and policyholders’ funds in particular. With a view to ensuring the safety and prudence as enshrined in the recently amended Investment Regulations, insurers are required to furnish ALL investments made (other than Government of India securities) for the months of Sep 2008, Oct 2008 and Nov 2008 with information as per the annexed format, certified by the statutory auditor of the insurer on or before 15 th Dec, 2008. Further, you are required to file with the Authority internal Norms to be adhered by the Investment Department in approving Debt / Debenture / Equity / Loan / Other Investments, as approved by the Board / Investment Committee. The details are to be furnished on or before 8 th Dec, 2008 . The softcopy of details required (in Microsoft Excel Format) should be to be mailed to snjayasimhan@irda.gov.in Insurers may please note that non submission of this information within the stipulated time would amount to non-compliance and would attract penal provisions. /Sd.
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