The Securities and Exchange Board of India (SEBI) has announced out revelation norms for the life insurance corporations if they put up for sale the shares to the public through Initial Public Offer (IPO).

Board accepted the recommendations for revelation by insurance companies made by the SEBI Committee on Disclosures and Accounting Standards (SCODA).

SEBI Chairman C.B. Bhave expressed that the query of public issues by Insurance Companies was believed by the SEBI Board and they are discussing about the life (insurance company) and not non-life (insurance company).

Board thought about the proposals of the SEBI Committee, which was shaped in consultation with Insurance Regulatory and Development Authority (IRDA).

He further added that the board has accepted specific additional revelation having precise regard to revelation of danger factors which are precise to insurance company, wide headings under all and summarized the insurance industry shall be revealed.

Other revelations specific to insurance company are setup for disclosure of financial news as specified by the IRDA.