News Non-Life16 May 2023

India:3 govt-owned general insurers need at least US$2bn to meet solvency standard

| 16 May 2023

The capital requirement of three public-sector general insurers (PSUs) is estimated to be INR172bn ($2.1bn) to INR175bn as of March 2024 to enable the insurers to meet the minimum solvency ratio of 1.50x, assuming the inclusion of 100% fair value change account (FVCA) in the available solvency margin, says Indian credit rating agency ICRA.

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