What is your outlook for the insurance sector?
The sector has been doing extremely well. We are showing double digit growth in the year and going forward this should continue. Q4 is something that we will be watching out very closely but I am very confident that the sector will do extremely well.
There are a few changes also expected in the insurance sector, government has proposed amendment in Insurance Act. What are your thoughts about that and there is one big development that may happen going ahead regarding the composite license?
We are studying all these things and it is still work in progress so we do not know how things will pan out and we will have to wait for the outcome of what the parliament decides because some of this will probably go to parliament for a decision. We are just waiting and in wait and watch mode as of now.
Do you think that the composite license will be a game changer in the insurance industry because life insurance companies presently are not able to sell nonlife products and vice versa so the horizon will increase?
I think it is a positive thing. I look at it as a very positive thing.
What are your thoughts about Bima Sugam that IRDA has proposed?
See, all these initiatives are good. We will have to see how it actually works and how the insurance companies are going to respond to all this. But it is I think a work in progress so let us wait and see.
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