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How Troubles At DHFL, Yes Bank, IL&FS, Anil Ambani Firms May Hurt Indian Insurers
Insurers had a total investment of Rs 9,320 crore in debt of these four firms, whose ratings were downgraded in H2FY19.
16 Aug 2019, 05:37 PM IST
Bajaj Group’s insurance subsidiary provided for its investments in debt downgraded by ratings agencies, hurting its profit in the quarter ended June 30. But the insurer isn’t alone in having such exposure.As many as 49 insurers disclosed a total investment of about Rs 11,000 crore in debt of companies that were downgraded in the second half of 2018-19. Of this, Rs 8,514 crore is invested in the paper of just four—Anil Ambani group co...
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