IRDAI's Expense Cap May Favor Larger Insurers Over Smaller Ones

Smaller life and general insurers have expressed concerns that the IRDAI's proposed distribution reforms, which include lowering expense management limits, might disproportionately benefit larger insurers. The aggregate expense cap could restrict smaller insurers' competitiveness in retail insurance, as larger insurers can better leverage economies of scale to manage costs effectively under the new rules.

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