Home First Finance shares jump after IRDAI grants insurance corporate agent licence to NBFC

Home First Finance Company shares were in high demand after insurance regulator IRDAI granted a corporate agent (composite) licence to the non-banking financial company (NBFC). The licence, enabling the housing finance company to solicit a range of insurance products to its customers, will be valid till February 20, 2027.

Home First Finance shares jump after IRDAI grants insurance corporate agent licence to NBFC
Home First Finance won a licence to act as an insurance corporate agent for its customers. | Image: Unsplash

Home First Finance Company shares rose on Thursday after the Insurance Regulatory and Development Authority of India (IRDAI) granted a corporate agent (composite) licence. The NBFC stock jumped by as much as Rs 36.1, or 4.0 per cent, to Rs 946.4 apiece in early deals on BSE. 

The licence, valid from February 21, 2024, to February 20, 2027, will enable Home First Finance Company to solicit insurance products, such as life, general and health insurance, to its customers as a corporate agent, the housing finance company said in a regulatory filing post-market hours on Wednesday. 

(This story will be updated shortly)

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Written By: ZeeBiz WebTeam
Updated: Thu, Feb 22, 2024
10:01 AM IST
New Delhi, ZeeBiz WebDesk
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