Question
Consider the following statement regarding the Domestic
Systematically Important Insurer of India, and identify the correct statement? i. Life Insurance Corporation is the only insures which falls under D - SII . ii. New India Assurance is the only insures which falls under D - SII . iii. GIC Re is one of the insurer which falls under D - SIIs category by IRDAI .Solution
The Life Insurance Corporation ( LIC ) , GIC Re . and New India Assurance continue to be identified as Domestic Systemically Important Insurers ( D - SIIs ). D - SIIs are being subjected to enhanced regulatory supervision, the . Insurance Regulatory and Development Authority of India ( IRDAI ). Domestic Systemically Important Insurers ( D - SIIs ) refer to insurers of such size, market importance, and domestic and global interconnectedness, whose distress or failure would cause a significant dislocation in the domestic financial system .
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