Important Points for IC 26 - Life Insurance Finance Exam
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Approved securities - Subject to the limitations contained in the provision hereto, securities guaranteed fully as regards principal and interest by a provisional Government in Pakistan of charged on the revenue of any part of that Dominion and debentures or other securities for money issued by or on behalf of the trustees of the Port of Karachi; provided that securities or debentures specified in item (v) shall be recognised as approved securities only for such purpose and such period and subject to such conditions as may be prescribed.
Life insurance companies invest surplus premium to earn interest and profit, cover shortfall arising due to death claims and cover expenditure of its operations.
The IRDA issued called Insurance Regulatory and Development Authority (Investment) (fourth Amendment) Regulations in 2008.
Investment assets mean all investments made out of - Shareholder funds, non-unit reserves of unit linked business, participating and non-participating funds of policyholders, Policyholders funds of pension and general annuity fund at carrying value and Policyholders unit reserves of unit linked business at their market value
Every life insurer shall invest not less than 25% of its surplus / investible sum in Government securities
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