The Insurance Regulatory and Development Authority, IRDA today said it will come with initial public offer guidelines for the insurance sector within a fortnight to allow companies to raise funds from the capital market. IRDA member R Kannan told PTI that it has been working on the guidelines along with market regulator Securities and Exchange Board of India, SEBI.Several private sector insurance companies, including Reliance Life, have shown interest in tapping the capital market to augment its resource base.The Government had proposed to ease the norms to allow companies to list after five years of operation, instead of the current 10-year norm. However, Mr Kannan said, no decision has been taken on reducing the number of years before permitting insurance companies to go public. As per the Insurance Act, the promoters having 26 per cent stake can offload equity after 10 years of operation of the company.The legislation also empowers the govenment to reduce the mandatory period. The IRDA had already notified the disclosure norms, necessary for providing details about the operations and balance sheets on quarterly and yearly basis.