Important Points for IC 26 - Life Insurance Finance Exam
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Every insurer shall invest and at all times keep invested not exceeding 60% funds belonging to pension and general annuity business in specified approved securities.
As per IRDA regulations, every insurer shall invest and at all times keep invested his segregated fund of unit linked business as per pattern of investment offered to and approved by policyholders where the units are linked to categories of assets which are both marketable and easily realizable.
IRDA has mandated insurers to classify their loan / advances into four categories: standard assets, sub-standard assets, doubtful assets and loss assets.
An asset is classified as an NPA if the interest and / or installment and / or installment of principal remain overdue for more than 90 days (i.e. one quarter).
Main function of the investment committee is to take decision regarding investment keeping in view the exposure norms / prudential norms and investment criteria laid down by IRDA.
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