Press Information Bureau

Government of India

Ministry of Finance

06-December-2012 19:01 IST

Life Insurance Corporation of India (LIC) and General Insurance Public Sector Companies have informed that the total number of Muslim employees in each category in LIC and Public Sector General Insurance Companies is as follows: 

Insurance Regulatory and Development Authority (IRDA) has informed that it has not issued any guidelines to Insurance Companies to start social work and schemes for the betterment of the Muslim Community specifically. However, IRDA has notified IRDA (Obligations of Insurers to Rural and Social Sectors) Regulation 2002 for the purpose of making available insurance to all the population belonging to the vulnerable sections of society including people living below poverty line. Both the groups have geographical and occupational basis encompassing all religious communities.

This was stated by the Minister of State for Finance Shri Namo Narain Meena in a written reply to a question in the Rajya Sabha today.

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DSM/RS/ka

Insurance obligations to vulnerable sections require inclusive coverage; no specific schemes target the Muslim community. The press release provides category-wise counts of Muslim employees in LIC and Public Sector General Insurance Companies and states that the insurance regulator has not issued guidelines for schemes specifically for the Muslim community, relying instead on a general regulatory framework obliging insurers to make insurance available to vulnerable sections of society.