The insurance regulator has tightened equity investment norms by prescribing a dividend track record of 10% for the last two years instead of the earlier 4% in the last eight out of the nine years. The Insurance Regulatory and Development Authority (IRDA) has said that insurance companies can invest in equity shares of any listed company where at least 10% dividend has been paid for at least two consecutive years under the approved investment category . Under the unit-linked insurance plans, which are a mix of investment and protection, companies can invest 75% in approved securities and 25% in other than approved securities. Approved securities are those stocks that have dividend paying record and are liquid. As per the liquidity criteria, in a month 50,000 shares, or a value of Rs.5 lakh crore, should be traded.Traditional funds invest primarily in government securities -50% -both state and central, 15% in infrastructure, and the remaining 35% in corporate bonds, equities and