IRDAI permits Go Digit Life Insurance to run life insurance business
Mumbai: The Insurance Regulatory and Development Authority of India (IRDAI) on Friday said that it has granted approval to Go Digit Life Insurance Limited to operate in the life insurance sector in India.
Go Digit, which is already involved in the general insurance business and supported by the Fairfax Group based in Canada, will now be able to expand its services to include life insurance.
With this approval, the total number of insurers operating in the life insurance segment has increased to 26.
"Insurance Regulatory and Development Authority of India (Irdai) in its 122nd meeting held on June 02, 2023, has granted a Certificate of Registration to a new life insurer namely, Go Digit Life Insurance Limited to carry life insurance business in India," the regulator said.
Go Digit General Insurance is planning to launch an initial public offering (IPO) and has already submitted the necessary documents to the Securities and Exchange Board of India (SEBI), the markets regulator.