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SOURCE OF INFORMATION : INSURANCE REGULATORY & DEVELOPMENT AUTHORITY OF INDIA WEBSITE
PERIOD COVERED : 16-AUG-2002 TO 13-JUL-2024

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

INSURANCE COMPANY: DEFAULTED IN MECHANISM REQUIRED FOR APPROPRIATE VALUATION OF ASSETS AND ARRIVING AT “AVAILABLE SOLVENCY MARGIN”

S.No. ENTITY  PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person METLIFE-INDIA INSURANCE CO.LTD.  
  DID NOT ADHERE TO FILE & USE DIRECTIVES/INSTRUCTIONS/GUIDELINES

DEFAULTED IN REFERRAL AGREEMENTS

DID NOT ADHERE TO OBLIGATIONS TOWARDS RURAL SECTOR IN 2008-09

DID NOT HOST INVESTMENT AND ACCOUNTING SERVERS IN INDIA

DID NOT SEND FUND STATEMENTS TO ULIP POLICYHOLDERS

DID NOT PUT IN PLACE MECHANISM REQUIRED FOR APPROPRIATE VALUATION OF ASSETS AND ARRIVING AT “AVAILABLE SOLVENCY MARGIN”

ENGAGED SERVICES OF INDIVIDUALS AND CORPORATES ON ”EXCLUSIVE BASIS” AS CONSULTANTS TO IDENTIFY,RECRUIT,TRAIN,MENTOR AND DEVELOP FINANCIAL ADVISORS

SETTLED DEATH BENEFITS TO GROUP MASTER POLICYHOLDER IN NON-EMPLOYER-EMPLOYEES CASES IN GROUP TERM INSURANCE POLICIES   		IMPOSED PENALTY RS.76,00,000

05-OCT-2012 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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