The insurance regulator in India has warned insurers not to load up on HDFC Group bonds, stating that specifics on allowable exposure thresholds must await the effective amalgamation date for what is billed as the country’s largest merger.
Housing Development Finance Corp (HDFC) proposed a merger with HDFC Bank in early April. Following the news, insurers wrote to their regulator, Irdai, to inquire about the authorised exposure limits in particular entities.