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Valuation Methodology of Equity Shares as Prescribed by IRDA

Insurance and Regulatory Development Authority (IRDA) through its circular number IRDA/F&I/INV/CIR/213/10/2013 dated October 30, 2013 has mandated Insurers to select either NSE or BSE as the Primary and Secondary exchange for valuation of its equity shares. The Company has selected NSE as the Primary Exchange and BSE as the Secondary Exchange. Accordingly, the equity shares held by the Company shall be valued at the closing price of the Primary exchange i.e. NSE. In case a security is not listed or traded on NSE, the Company shall use the closing price of the secondary exchange i.e. BSE.