S.No   i)   ii)	Type of Investment   Government Securities                                                       Government Securities or other approved Securities (including (i) above)	Percentage   25%    Not less than 50%
iii)   _______   a)                       _______   b)	Approved Investments as specified in Schedule I _____________________________________   Infrastructure and Social Sector     Explanation: For the purpose of this requirement, Infrastructure and Social Sector shall have the meaning as given in regulation 2(h) of Insurance Regulatory and Development Authority (Registration of Indian Insurance Companies) Regulations, 2000 and as defined in the Insurance Regulatory and Development Authority (Obligations of Insurers to Rural and Social Sector) Regulations, 2000 respectively.        Others to be governed by Exposure            norms as specified in regulation 5.  Investment in “other than approved  Investments” can in no case exceed 15% of thefund	_____________   Not less than 15%                     _____________   Not exceeding 35%

 

 

Type of Investment	Limit for Investee Company	Limit for the entire group to which the Investee Company belongs	Limit for the Industry Sector to which the Investee Company belongs
(a) All investments in Equity / Preference Shares of the Company (b)Debentures (Convertible / partly convertible/non-convertible) (c) Short/ Medium/ Long term loans (d) Any other permitted investments as per the Act/Regulation	In the case of Indian Insurance Companies: Exposure at any point of time not to exceed 10% of the subscribed share capital, free reserves and debentures/ bonds of the investee company or the 10% of the Insurer’s   total assets in case of non-life insurers and 10% of the Controlled funds in case of Life insurers, whichever is less.   In the case of existing insurers: The limits mentioned above as applicable to the Indian Insurance Companies, shall stand modified as under:- a) exposure at any point of time not to exceed 20% of the subscribed share capital, debentures/ bonds of the investee company or 5% of the Controlled funds of the life insurer or 10% of the general insurers total assets	Exposure at any point of time not to exceed 10% of the aggregate subscribed share capital, free reserves and debentures of all the group companies in which investments including investments under considerations, have been or proposed to be made by the insurer or the 10% of the total assets in case of Non-Life Insurers and 10% of the Controlled Funds in case of Life Insurers whichever is less. The percentage of 10% of the total assets in the case on Non-Life insurers and 10% of the Controlled Fund in case of Life insurers can be raised to 15% in each case subject to specific approval of IRDA.	Investment by the insurer in any industrial sector would not exceed 10% of its total investment exposure to the industrial sector as a whole. (Classification of Industrial sector to be done on the lines of classification in Industries done by CMIE (Centre for Monitoring Indian Economy)

 

 

5

Form 3C

Exception Report on instruments not complying with “AA” or “AAA” grade – Compliance Report

Quarterly

Within 21 days of the end of each quarter

Principal Officer/Chief (Investment)

 

 

		INVESTMENT OF CONTROLLED FUND
S.No.	Type of Investment	Percentage	Amount Invested as per regulations	Actual %	Market Value or Realisable Value
i)	Government Securities	25%
ii)	Government Securities or other approved securities (including (I) above)	Not less than 50%
iii)	Approved Investments
a)	Infrastructure and Social Sector i) Infrastructure Sector ii) Social Sector	Not less than 15%	i) ii)
b)	i)Others to be governed by Exposure norms specified in regulation 5 ii)Out of the above 35%, percentage of investment in ‘Other than Approved Investments’ not to exceed 15%	Not exceeding 35%	i)     ii)
	Total Investments	100%

 

 

		INVESTMENT OF ASSETS
S.No.	Type of Investment	Percentage	Amount Invested as per regulations	Actual %	Market Value or Realisable Value
i)	Government Securities being not less than	20%
ii)	Government Securities or other approved securities (including (a) above) being not less than	40%
iii)	Balance Investments to be invested in Approved Investments not exceeding	60%
	Total Investments	100%

 

 

		INVESTMENT OF ASSETS
S.No.	Type of Investment	Percentage	Amount Invested as per regulations	Actual %	Market Value or Realisable Value
i)	Approved Investment	Not less than 75%
ii)	Unapproved Investments	Not more than 25%
	Total Investments	100%

 

 

		INVESTMENT OF TOTAL ASSETS
S.No.	Type of Investment	Percentage	Amount Invested as per regulations	Actual %	Market Value or Realisable Value
i)	Central Government Securities being not less than	20%
ii)	State Government Securities and other Guaranteed securities including a) above being not less than	30%
iii)	Housing and Loans to State Govt. for Housing and Fire Fighting Equipment being not less than	5%
iv)	Approved Investments
a)	Infrastructure and Social Sector i) Infrastructure Sector ii) Social Sector	Not less than 10%	i) ii)
b)	i)Others to be governed by Exposure Norms specified in regulation 5 ii)Out of the above 55%, investments in other than Approved Investments not to exceed 25%	Not exceeding 55%	i)     ii)
	Total Investments	100%

 

 

S. No	Name of Instrument	Institution Rating the Instrument	Rating Grade of Instrument	Amount Invested in the instrument	Dt. of approval by the Investment Committee and the reasons thereof

 

 

S. No	Name of Instrument	Institution Rating the Instrument	Rating Grade of Instrument	Amount Invested in the instrument	Dt. of approval by the Investment Committee and the reasons thereof

 

 

S. No	Name of Instrument	Institution Rating the Instrument	Rating Grade of Instrument	Amount Invested in the instrument	Dt. of approval by the Investment Committee and the reasons thereof

 

 

S. No	Name of Instrument	Institution Rating the Instrument	Rating Grade of Instrument	Amount Invested in the instrument	Dt. of approval by the Investment Committee and the reasons thereof

 

 

S. No		Norms as per regulations	Whether Exposure Norms have been observed or not	Remarks
I	Limit for Investee Company	In the case of Indian Insurance Companies: Exposure at any point of time not to exceed 10% of the subscribed share capital, free reserves and debentures/ bonds of the investee company or the 10% of the Insurer’s   total assets in case of non-life insurers and 10% of the Controlled funds in case of Life insurers, whichever is less. In the case of existing insurers: Exposure at any point of time not to exceed 20% of the subscribed share capital, debentures/ bonds of the investee company or 5% of the Controlled funds of the life insurer or 10% of the general insurers total assets.
		Subject to exposure limits as per Insurance Act, 1938, investment in equity including preference shares, investment in equity convertible part of debentures should not exceed 50% of the above exposure norms. A similar 50% of exposure norms limit would also apply to investment in immovable property.
		Subject to exposure limits mentioned in the table above, an Insurer shall not have investments of more than 5% in aggregate of its Controlled funds in the case of a life insurer or 5% in aggregate of its assets in the case of non-life insurer in the companies belonging to the promoters’ groups. For the purposes of this regulation “group” will have the same meaning as in the MRTP Act, 1969. All investments in this category would specifically be referred to the Authority.
II	Limit for the entire group to which the investee company belongs	Exposure at any point of time not to exceed 10% of the aggregate subscribed share capital, free reserves and debentures of all the group companies in which investments including investments under considerations, have been or proposed to be made by the insurer or the 10% of the total assets in case of Non-Life Insurers and 10% of the Controlled Funds in case of Life Insurers whichever is less. The percentage of 10% of the total assets in the case on Non-Life insurers and 10% of the Controlled Fund in case of Life insurers can be raised to 15% in each case subject to specific approval of IRDA. The clause “whichever is less” will continue to apply.
		Subject to exposure limits as per Insurance Act, 1938, investment in equity including preference shares, investment in equity convertible part of debentures should not exceed 50% of the above exposure norms. A similar 50% of exposure norms limit would also apply to investment in immovable property.
		Subject to exposure limits mentioned in the table above, an Insurer shall not have investments of more than 5% in aggregate of its Controlled funds in the case of a life insurer or 5% in aggregate of its assets in the case of non-life insurer in the companies belonging to the promoters’ groups. For the purposes of this regulation “group” will have the same meaning as in the MRTP Act, 1969. All investments in this category would specifically be referred to the Authority.
III	Limit for the industry sector to which the investee company belongs	Investment by the insurer in any industrial sector would not exceed 10% of its total investment exposure to the industrial sector as a whole. (Classification of Industrial sector to be done on the lines of classification in Industries done by CMIE (Centre for Monitoring Indian Economy)
		Subject to exposure limits as per Insurance Act, 1938, investment in equity including preference shares, investment in equity convertible part of debentures should not exceed 50% of the above exposure norms. A similar 50% of exposure norms limit would also apply to investment in immovable property.