IRDAI clears investments in private companies, eases infrastructure funding norms - The Economic Times Benchmarks
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News›Industry›Banking/Finance›Insure›IRDAI clears investments in private companies, eases
infrastructure funding norms The Economic Times daily newspaper is available online now. Read Today's Paper IRDAI clears
investments in private companies, eases infrastructure funding normsSECTIONSIRDAI clears investments in private
companies, eases infrastructure funding normsBy Shilpy Sinha, ET BureauLast Updated: Jul 31, 2026, 12:41:00 PM ISTRate
StoryFollow usShareFont SizeAbcSmallAbcMediumAbcLargeSavePrintCommentSynopsisIRDAI has expanded insurers' investment
options by permitting investments in private limited companies, infrastructure SPV debt and repo, reverse repo and
government securities lending transactions. The changes aim to improve investment flexibility and liquidity while
setting exposure caps, eligibility criteria and disclosure requirements. The regulator has also revised limits for
investments in promoter group companies.Listen to this article in summarized format Listen Loading...××
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SubscriptionAgenciesRepresentative image. The Insurance Regulatory and Development Authority of India (IRDAI) has
widened the investment avenues available to insurers by allowing investments in private limited companies, easing norms
for financing infrastructure projects through special purpose vehicles (SPVs), and permitting repo and government
securities lending transactions, in a move aimed at improving investment flexibility and liquidity
management.Infrastructure SPVs get a boostOne of the key changes allows insurers to invest in debt issued by
infrastructure SPVs, or project-specific companies set up to build assets such as roads, ports and power plants.
Insurers can invest up to 20% of the debt issued by an SPV, or the applicable investment limit under existing
regulations, whichever is lower. The project should be operational with stable cash flows, the funds must be used only
to refinance existing debt, and the debt must carry a minimum AA rating. SPVs will have to disclose quarterly cash
flows, while insurers must report details such as the SPV's name, investment amount, tenure, coupon rate and commercial
operation date in their financial statements.Private company investments allowedInsurers can now invest in equity and
debt instruments of private limited companies as part of their other investments portfolio. Life insurers can invest up
to 3% of their life or segregated funds, while general insurers can invest up to 5% of their investment assets in
private limited companies, Alternative Investment Funds (AIFs) and Venture Funds (VFs), taken together. Also, the
investee company must have a minimum net worth of Rs 25 crore and should have reported profits in at least two of the
previous three financial years. Investments in private companies belonging to an insurer's promoter group is
prohibited.Promoter group exposureThe regulator has also revised investment norms for promoter group companies. An
insurer can invest up to 5% of its investment assets in a single promoter-controlled company, with the aggregate
exposure across all promoter group companies capped at 5%. Such investments cannot be made through private placements or
unlisted securities, except in specified cases such as qualified institutional placements of BSE100/NSE100 companies and
certain insurer-promoted entities.Repo, reverse repo and securities lendingIRDAI has also allowed insurers to undertake
repo transactions and government securities lending to improve liquidity management. The combined exposure has been
capped at 25% of eligible government securities after meeting statutory investment requirements, or Rs 10,000 crore,
whichever is lower, and must comply with RBI guidelines.Live EventsThe regulator has also permitted reverse repo
transactions in corporate debt securities. Life insurers can invest up to 10% of their funds, while general, health and
reinsurance companies can invest up to 10% of their investment assets. The 10% limit does not apply to reverse repo
transactions in government securities.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our
Economic Times WhatsApp channel)Read More News onIRDAIfunding normsinsurance investmentsinfrastructure fundingprivate
limited companiesliquidity managementinvestment regulationsSPVs(Catch all the Business News, Breaking News and Latest
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