IRDAI notified regarding the NAV declaration

Dec 27, 2022 | by TeamLease RegTech Legal Research Team

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Finance & Taxation Compliance The Insurance Regulatory Development Authority of India, (IRDAI) on December 26, 2022, issued a circular regarding the NAV declaration when the quarter end is a holiday.

The following has been stated namely: -

• It has been clarified that Life Insurers can declare NAV on the last day of each quarter, even if it is a non-business day, i.e. a holiday to sync the published NAV of quarter-end and non-business day with the NAV as per the financials of ULIP Funds on that day.

[Circular Ref: IRDAI/F&I/INV/CIR/248/12/2022]

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