per cent exposure in another firm, the takeover code kicks in. If you buy 30 per cent then the company will be compelled to purchase another 20 per cent. So, in no time, it will be owing 50 per cent of the company. In which case insurance companies are supposed to own some companies. Then it will be running some steel companies,” the IRDA chairman pointed out, adding that it may be useful for venture capital firms who are aggressive investors. “Would it be wise thing to do for the insurance companies? The way I think is insurance and pension have to be necessarily very conservative,” he said.
‘Govt should set up a National Health Insurance Scheme’
The Irda on Monday said the government should consider setting up a National Health Insurance Scheme by combining existing health insurance schemes to improve the level of insurance coverage. “The government should look at combining the benefits of schemes like the Aarogyasri scheme and the Rashtriya Swasthya Bima Yojna,” Irda chairman J Hari Narayan said. ENS