XBRL Filing Extends to Insurance in India
Mumbai’s stock exchange, the BSE, has extended mandatory XBRL filing to listed insurance companies.
On 8 February BSE launched an XBRL taxonomy to enable listed insurance companies to join all other listed entities in filing their financial reports in XBRL format. The BSE also offers an Excel utility with built-in validation to help smaller insurance concerns to correctly prepare and upload XBRL files to the BSE’s Listing Portal.
While this will only affect a small number of firms, it is a welcome move, bringing insurance companies in line with their listed peers. Ensuring all financial reports filed to BSE are in XBRL format will increase efficiency, accuracy, and transparency, enabling investors to make faster, better-informed decisions.