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    Question

    Consider the following statement regarding the Domestic Systematically Important Insurer of India, and identify the correct statement?

    i.     Life Insurance Corporation is the only insures which falls under D - SII .

    ii.     New India Assurance is the only insures which falls under D - SII .

    iii.     GIC Re is one of the insurer which falls under D - SIIs category by IRDAI .

    A Only I Correct Answer Incorrect Answer
    B Only II Correct Answer Incorrect Answer
    C Only III Correct Answer Incorrect Answer
    D Both I and II Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

         The Life Insurance Corporation ( LIC ) , GIC Re . and New India Assurance continue to be identified as Domestic Systemically Important Insurers ( D - SIIs ). D - SIIs are being subjected to enhanced regulatory supervision, the . Insurance Regulatory and Development Authority of India ( IRDAI ). Domestic Systemically Important Insurers ( D - SIIs ) refer to insurers of such size, market importance,  and domestic and global interconnectedness, whose distress or failure would cause a significant  dislocation in the domestic financial system .

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