Mumbai: The Bombay Stock Exchange (BSE) today organised an address by N Rangachary, chairman, Insurance Regulatory Development Authority (IRDA) on 'Growth of Insurance Sector and Role of Financial Intermediaries.'

The talk was an initiative by the BSE to enable the sharing of insights between the IRDA and financial intermediaries. The BSE had invited N Rangachary to share his perspective with capital market participants, insurance companies and bankers.

Rangachary has spearheaded the reforms in the insurance sector in India since 1996 when the IRDA was established. In recognition of his contribution to the insurance reforms in India, the International Insurance Council, USA, honoured him with International Insurance Award for the year 1999-2000.

The insurance industry has been a growth-oriented industry globally. On the Indian scene, too, the insurance industry has recorded noticeable growth vis-à-vis other Indian industries. This industry saw a new sun when the IRDA invited the applications for registration as insurers in August 2000. With the liberalisation and opening up of the insurance sector to private players, the industry presents promising prospects for the coming future.

It was realising this need and importance of this sector that the BSE organised the address for potential investors, insurance companies, CEOs, corporates, stockbrokers, academicians and other financial intermediaries.