13 August 2012

IRDA Announces Uniform Framework for Reporting Asset Liability Management Policy

The Insurance Regulatory and Development Authority (IRDA) has announced a broadly-defined uniform framework for reporting asset liability management (ALM) policy adopted by life and non-life insurance companies. According to the framework, each insurer will have an ALM policy approved by the Board of
the Insurer which would consider asset liability relationships, the insurer’s overall risk tolerance, risk and return requirement, solvency position & liquidity requirements. 
Further details are available vide IRDA circulars nos. IRDA/ACTL/CIR/ALM/005/01/2012 and IRDA/ACTL/CIR/ALM/006/01/2012 both dated 3rd January 2012 respectively. 
This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today. 

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