Insurers Life Insurance Corporation of India, General Insurance Corporation of India, and New India Assurance Co. are still considered to be “too big or too important to fail,” according to regulator Irdai, and they continue to be classified as Domestic Systemically Important Insurers (D-SIIs).
Insurers of a certain size, market importance, and domestic and international interconnection are referred to as domestic systemically important insurers (D-SIIs), and their distress or collapse would result in a substantial disruption of the domestic financial system.
As a result, D-SIIs must continue to operate in order for the national economy to continue receiving insurance services.
LIC, GIC Re, New India remain Domestic Systemically Important Insurers: Irdai
