Regulator Irdai on Friday said it has given permission to Go Digit Life Insurance Limited to carry the life insurance business in India.
Go Digit, a firm backed by Canada-based Fairfax Group, is already in the general insurance business.
With the latest addition, the number of insurers operating in the life insurance segment has gone up to 26.
"Insurance Regulatory and Development Authority of India (Irdai) in its 122nd meeting held on June 02, 2023, has granted a Certificate of Registration to a new life insurer namely, Go Digit Life Insurance Limited to carry life insurance business in India," the regulator said.
Go Digit General Insurance is also proposing to come out with an IPO and has already filed papers with markets regulator Sebi.