IRDAI proposes allowing insurers to invest in unlisted firms: sources

India’s insurance regulator has proposed to the government that insurers be allowed to buy over 10% of unlisted firms without approval, regulatory and industry sources said, a move that could unlock new funding avenues for startups in Asia’s third largest economy.

Currently, Insurance Regulatory and Development Authority of India (IRDAI) does not allow insurers to invest in unlisted entities without its permission.