The Insurance Regulatory and Development Authority (IRDA) released the guidelines for disclosure for the insurance companies.

Under the new guidelines the companies will now have to disclose their balance sheet, profit and loss account, revenue account and also key ratios related to premium collections and company expenses.

The data must be published in at least one English daily on half yearly basis and on the company website on quarterly basis. The disclosures for the past five years must also be available on the company website.

The new guidelines will be applicable on all life and non-life insurers from the period ended March 31, 2010.

A statement from the authority said, "Several insurance companies will complete 10 years shortly and may be allowed by the regulator to go for IPOs. It is essential that investors are fully aware of financial performance, profile, financial position, risk exposure and managements of insurance companies."