Irdai asks government to infuse funds in state-run insurers

The Insurance Regulatory and Development Authority of India (Irdai) has asked the government to infuse funds in state-run insurance companies and has made a presentation to the finance ministry on the budget expectations. The move is quite unusual at this time because normally the budget expectations and presentations are made by the representative bodies this time is seen as sort of an intervention from the regulator in exceptional cases. The first and the most important point which the regulator has made is to infuse funds when it comes to three PSU general insurance companies—National Insurance Co, Oriental Insurance and United India Insurance.