Life insurance companies are eagerly awaiting the outcome of the stand-off between the Insurance Regulatory and Development Authority and the Securities and Exchange Board of India on unit-linked insurance plans (ULIPs).
“Monday's temporary truce has been broken with SEBI's order that a certificate of registration should be obtained from it for new ULIP schemes from April 9, 2010. This has pushed the issue into greater confusion,” the chief financial officer of a life insurance company told Business Line.
Caught between the two regulators, the insurance companies are hesitant to come on record about the future course of action and the impact of the order.
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