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Section 64VA. Sufficiency of assets--(1) Every insurer and re-insurer shall at all times maintain an excess of value of assets over the amount of liabilities of, not less than fifty per cent. of the amount of minimum capital as stated under section 6 and arrived at in the manner specified by the regulations.
The Insurance Regulatory and Development Authority of India (IRDAI) has made changes to the approval process for insurance products.What changes have be...
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