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Consider the following:
Life Insurance Corporation of India
Max Life Insurance Company Limited
General Insurance Corporation of India
New India Assurance Company Limited
Which of the above are identified as Domestic Systemically Important Insurers (D-SIIs) in India?
- a)1 and 3 only
- b)1, 2 and 3 only
- c)1, 3 and 4 only
- d)2, 3 and 4 only
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following: Life Insurance Corporation of India Max L...
The Domestic Systemically Important Insurers (D-SIIs) in India are identified by the Insurance Regulatory and Development Authority of India (IRDAI). These insurers are considered to be of significant importance to the domestic financial system and are subject to additional regulatory requirements to ensure their stability and minimize risks to the financial system.
Below is the identification of D-SIIs among the given insurers:
1. Life Insurance Corporation of India:
The Life Insurance Corporation of India (LIC) is the largest life insurance company in India and holds a dominant market share. Due to its size, wide reach, and interconnectedness with the domestic financial system, LIC has been identified as a D-SII.
3. General Insurance Corporation of India:
The General Insurance Corporation of India (GIC Re) is the national reinsurer of India and plays a crucial role in the insurance industry. GIC Re's position as a reinsurer and its significant impact on the stability of the domestic financial system have led to its identification as a D-SII.
4. New India Assurance Company Limited:
The New India Assurance Company Limited (NIACL) is one of the largest general insurance companies in India. It operates across various segments of insurance and its size and importance in the domestic insurance market have resulted in its identification as a D-SII.
2. Max Life Insurance Company Limited:
Max Life Insurance Company Limited is not included in the list of identified D-SIIs in India. It is important to note that the identification of D-SIIs is based on various factors such as their size, interconnectedness, complexity, and importance to the domestic financial system. Since Max Life Insurance Company Limited has not been identified as a D-SII, it may be considered relatively less systemically important compared to the other insurers mentioned.
In conclusion, the Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC Re), and New India Assurance Company Limited (NIACL) are identified as Domestic Systemically Important Insurers (D-SIIs) in India.
Below is the identification of D-SIIs among the given insurers:
1. Life Insurance Corporation of India:
The Life Insurance Corporation of India (LIC) is the largest life insurance company in India and holds a dominant market share. Due to its size, wide reach, and interconnectedness with the domestic financial system, LIC has been identified as a D-SII.
3. General Insurance Corporation of India:
The General Insurance Corporation of India (GIC Re) is the national reinsurer of India and plays a crucial role in the insurance industry. GIC Re's position as a reinsurer and its significant impact on the stability of the domestic financial system have led to its identification as a D-SII.
4. New India Assurance Company Limited:
The New India Assurance Company Limited (NIACL) is one of the largest general insurance companies in India. It operates across various segments of insurance and its size and importance in the domestic insurance market have resulted in its identification as a D-SII.
2. Max Life Insurance Company Limited:
Max Life Insurance Company Limited is not included in the list of identified D-SIIs in India. It is important to note that the identification of D-SIIs is based on various factors such as their size, interconnectedness, complexity, and importance to the domestic financial system. Since Max Life Insurance Company Limited has not been identified as a D-SII, it may be considered relatively less systemically important compared to the other insurers mentioned.
In conclusion, the Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC Re), and New India Assurance Company Limited (NIACL) are identified as Domestic Systemically Important Insurers (D-SIIs) in India.
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Consider the following: Life Insurance Corporation of India Max Life Insurance Company Limited General Insurance Corporation of India New India Assurance Company Limited Which of the above are identified as Domestic Systemically Important Insurers (D-SIIs) in India?a)1 and 3 onlyb)1, 2 and 3 onlyc)1, 3 and 4 onlyd)2, 3 and 4 onlyCorrect answer is option 'C'. Can you explain this answer?
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