IRDAI Approves Edelweiss Fin Services General Insurance Biz

Edelweiss Financial Services today said it has received regulator IRDAI's approval for setting up a general insurance company.

The Insurance Regulatory & Development Authority of India (IRDAI) has accepted the registration application for setting up a general insurance company in India, filed by Edelweiss General Insurance Company, a wholly-owned subsidiary, it said in a regulatory filing.

This is the second stage of regulatory clearances required for carrying on the business as a general insurance company in India.

The company has applied for general insurance licence in July 2016.