TMI BlogInsurers Surpass Targets for Rural Areas in 2010-11X X X X Extracts X X X X X X X X Extracts X X X X ..... Insurers Surpass Targets for Rural Areas in 2010-11 - News and Press Release Dated:- 23-8-2012 - News - Press Information Bureau Government of India Ministry of Finance 23-August-2012 17:02 IST The Insurance Regulatory and Development Authority (IRDA) has reported that it has mandated regulations for both life and non-life insurers and fixed targets for insurers business in Rura ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Areas . There is no such mandated regulation for Semi-Urban Areas. The authority takes regulatory action for non-compliance of the Insurance Regulatory and Development Authority (Obligations of Insurers to Rural or Social Sectors) Regulations, 2002 and amended from time to time, by the State-owned insurers in the rural sector. As per the regulations, the target for exclusive business in rural ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ea fixed for State-owned life and non-life insurers is 25% of the total number of policies and 7% of gross premium income written direct in that year, respectively. The performance of the State-owned life insurer in the rural area was 32.74% against target of 25% of the total number of policies whereas for non-life insurers, it was 10.15 % against target of 7% of gross direct premium income for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the financial year 2010-11. This was stated by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the Rajya Sabha today. * * * DSM/RS/bs - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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