Laws and sections by number or title, due dates, pages, and updates.
Insurers may invest in debt securities issued by Infrastructure Investment Trusts and Real Estate Investment Trusts under specified conditions. The debt instruments must hold a rating of not less than AA to qualify as approved investments. Instruments rated or downgraded below AA move to other investments. Insurers must limit exposure to 10 percent of outstanding debt instruments in a single issue and cap cumulative investments in units and debt instruments at 3 percent of the total fund size. Insurers cannot invest in debt instruments when the trust sponsor belongs to the insurer promoter group. The concurrent auditor must confirm compliance in the quarterly report to the audit committee or board.
What you must do
Key dates
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INSURANCE REGULATORY AND
DEVELOPMENT AUTHORITY OF INDIA
REF: IRDAI/F&I/CIR/INV /098/04/2021
Date: 22nd Apr, 2021
CIRCULAR
INVESTMENTS IN DEBT SECURITIES OF InvITs AND REITs
Investments-Master Circular permits insurers to invest in Units of listed
Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts
(REITs). Consequent to Finance Act, 2021 permitting Trusts to issue Debt
Securities, the following conditions shall apply to Insurers investing in "Debt
Securities" issued by InvITs / REITs:
Approved Investments:
