Insurance – Proposed amendments to IRDA (Investment) Regulations 2008

Date- 25.08.2011 – The Authority after notification of IRDA (Investment) (4th Amendment) Regulations, 2008 and after mandating the minimum requirements in respect of Investment Risk Management Systems & Process and Internal / Concurrent Audit Scope (issued through Technical Guides through the ICAI) took the feedback from the Working Group members on (1) Operational Issues (2) Systems issues (3) Audit related issues.

Further, after taking the inputs from the Working group and after discussing the same within IRDA, submitted the feedback for the recommendations of IRDA’s Standing  Committee on Accounting Issues.

The recommended amendments to (1) Periodical Returns (2) Proposed Amendment to Investment Regulations and (3) Guidance note on Preparation of Investment Returns are placed on the web for inviting comments from  all stake holders (including insurers, policyholders, academics, analysts etc.)

The  comments /suggestions may be sent to  snjayasimhan@irda.gov.in and marking cc to rkumar@irda.gov.in,  latest by 2nd Sep, 2011.

Download

(1) Periodical Returns

(2) Proposed Amendment to Investment Regulations 

(3) Guidance note on Preparation of Investment Returns

Related posts:

1. Exposure draft regarding proposed amendment to IRDA Regulations for Protection of Policyholders Interests, 2002 – Issuance of Key Feature Documents for insurance products
2. IRDA – Exposure Draft on IRDA (Issue of Capital and Disclosure Requirements for Life Insurance Companies) Regulations, 2011
3. Insurance – IRDA (Scheme of Amalgamation and Transfer of General Insurance Business) Regulations, 2011
4. IRDA slaps Rs 10 lakh penalty on Reliance Life Insurance
5. IRDA (Scheme of Amalgamation and Transfer of General Insurance Business) Regulations, 2011