
Shares of CAMS (Computer Age Management Services) surged over 7% in trade on Tuesday after the insurance regulator IRDAI said that it has mandated issuance of insurance policies in electronic form w.e.f. April 1, 2024. CAMS Insurance Repository Services (CAMSRep), WoS, is an IRDAI registered Insurance Repository and facilitates issuance of policies in the electronic mode.
CAMS share price hit an intraday high of Rs 3,225 in the afternoon trade against its previous close of Rs 2,992. Minutes before market closing, CAMS share price was at Rs 3,182 on the NSE, up 6.34%.
“CAMS Insurance Repository Services Limited, (“CAMSREP”) one of the wholly owned subsidiaries of the company is an IRDAI registered Insurance Repository and is facilitating the issuance of policies in the electronic mode,” the company said in an exchange filing on Tuesday.