IRDAI INITIATIVE TO LEAST DEVELOPED COUNTRIES (LDCs) FOR DEVELOPING/ STRENGTHENING THEIR INSURANCE MARKETS

The Insurance Regulatory and Development Authority of India (IRDAI) was constituted as an autonomous body to regulate and develop the Indian Insurance industry. The IRDA was incorporated as a statutory body in April, 2000 following the opening of the Insurance sector for private participation. The key objectives of the IRDA include promotion of Insurance sector and also to enhance customer satisfaction through increased consumer choice, while ensuring the financial security of the Insurance market.

A well-developed and evolved insurance sector is a boon for economic development as it provides long-term funds for infrastructure development at the same time strengthening the risk taking ability of the country.

The IRDAI has been extending support to the delegates of developing/ less developed countries in the form of providing technical inputs based on their requirement, with an objective to improve and enhance their knowledge on various aspects of Insurance.

For further details, please contact:

Mr. A. Venkateswara Rao

General Manager, HoD (SDD)

Sectoral Development Department

Insurance Regulatory and Development Authority of India

Nanakramguda,Gachibowli, Hyderabad – 500032

Ph: (040) 20204000

Email: avrao@irda.gov.in