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The Insurance Regulatory and Development Authority of India requires non-life insurers to examine differences between GDP flash figures and segment wise GDP totals. Insurers must communicate the reasons for any differences to the authority during monthly business figure submissions. This requirement applies to all non-life insurers including stand alone health insurers.
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[Image omitted. See the official document.]
Ref: IRDAI/NL/CIR/MISC/292/12/20-21
Date: 02-12-2020
All Non-Life insurers (Including Stand Alone Health Insurers)
Re: Mismatch in GDP flash Figures and Segment wise GDP figures total
It is observed that there is mismatch in GDP flash figures and Segment wise GDP figures total for some insurers.
Since data are maintained and collected in electronic format, there should not be any difference even small.
Hence, insurers are advised to examine the reason(s) of differences (even small), if any, between submitted GDP flash figures and segment wise GDP figures total and communicate such reason(s) to us while submitting monthly business figures.
[Image omitted. See the official document.] (Yegnapriya Bharath) CGM (Non-Life)
सर्वे नं. 115/1, फाइनेंशियल डिस्ट्रिक्ट, नानकरामगुडा, हैदराबाद-500 032, भारत (: +91-40-2020 4000 वेबसाइट : www.irdai.gov.in Survey No. 115/1, Financial District, Nanakramguda, Hyderabad-500 032, India (: +91-40-2020 4000 Website : www.irdai.gov.in
