India insurance regulator nudging insurers to trade bonds

[MUMBAI] India's insurance regulator is nudging insurers to trade some of its government and corporate debt, instead of holding them to maturity, said VR Iyer, a senior official at the Insurance Regulatory and Development Authority of India, said on Tuesday.

India's capital markets regulator will also come out with guidelines for exchange-traded repos, said RK Agarwal, a senior official at the Securities and Exchange Board of India, seeking to bring more regulation to a still relatively young product in India.

Both the officials were taking part in a panel discussion on corporate bonds in Mumbai.

India has been keen to develop its debt markets, especially in corporate bonds. Insurers are among the biggest debt investors in the country.

REUTERS