The Insurance Regulatory and Development Authority of India (Irdai) announced on Friday that it had granted a life insurance business license to Go Digit Life Insurance Limited.
The Insurance Regulatory and Development Authority of India (Irdai) announced on Friday that it had granted a life insurance business license to Go Digit Life Insurance Limited.
Go Digit, a company backed by Canada’s Fairfax Group, is already in the general insurance business.
Go Digit, a company backed by Canada’s Fairfax Group, is already in the general insurance business.
With the latest increase, the number of insurers active in the life insurance sector has risen to 26.
With the latest increase, the number of insurers active in the life insurance sector has risen to 26.
“Insurance Regulatory and Development Authority of India (Irdai), at its 122nd meeting on 2 June 2023, granted a certificate of registration to a new life insurer, namely Go Digit Life Insurance Limited, to conduct life insurance business in India,” the said the regulator.
“Insurance Regulatory and Development Authority of India (Irdai), at its 122nd meeting on 2 June 2023, granted a certificate of registration to a new life insurer, namely Go Digit Life Insurance Limited, to conduct life insurance business in India,” the said the regulator.
Go Digit General Insurance Ltd, a company backed by Canada-based Fairfax Group, has resubmitted preliminary IPO papers to Sebi after making certain changes to its employee stock appreciation program.
Go Digit General Insurance Ltd, a company backed by Canada-based Fairfax Group, has resubmitted preliminary IPO papers to Sebi after making certain changes to its employee stock appreciation program.
This comes after Sebi returned draft Go Digit initial public offering (IPO) papers on Jan. 30 and asked the company to resubmit the documents with certain updates.
This comes after Sebi returned draft Go Digit initial public offering (IPO) papers on Jan. 30 and asked the company to resubmit the documents with certain updates.
The size of the company’s IPO remains unchanged in the revised documents.
The size of the company’s IPO remains unchanged in the revised documents.
Go Digit’s proposed IPO will involve a $1.5 billion share issuance ₹1,250 crore and an Offer for Sale (OFS) of 10.94 crore shares by a promoter Go Digit Infoworks Services and existing shareholders.
Go Digit’s proposed IPO will involve a $1.5 billion share issuance ₹1,250 crore and an Offer for Sale (OFS) of 10.94 crore shares by a promoter Go Digit Infoworks Services and existing shareholders.
It was proposed that the proceeds from the new issue be used to strengthen the company’s capital base and maintain solvency levels, as well as for general corporate purposes.
It was proposed that the proceeds from the new issue be used to strengthen the company’s capital base and maintain solvency levels, as well as for general corporate purposes.
Cricketer Virat Kohli and his wife and actress Anushka Sharma are among the company’s investors.
Cricketer Virat Kohli and his wife and actress Anushka Sharma are among the company’s investors.
Go Digit offers auto insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products to meet customers’ needs. It is one of the first non-life insurers in India to operate entirely in the cloud and has developed API (Application Programming Interface) integrations with several channel partners.
Go Digit offers auto insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products to meet customers’ needs. It is one of the first non-life insurers in India to operate entirely in the cloud and has developed API (Application Programming Interface) integrations with several channel partners.
