IFSCA (Registration of Insurance Business) (Amendment) Regulations, 2026

The International Financial Services Centres Authority has notified the International Financial Services Centres Authority (Registration of Insurance Business) (Amendment) Regulations, 2026, dated January 5, 2026, under Sections 28, 12, and 13 of the IFSCA Act, 2019. The amendment revises the definition of “Service Companies of Lloyd’s IFSC” in the Second Schedule to the 2021 regulations. Under the substituted provision, such service companies must be registered in India and may be promoted by (a) Managing Agents of Lloyd’s, (b) group entities of Managing Agents or Members of Lloyd’s as permitted by Lloyd’s, or (c) Indian companies that meet the criteria specified under the regulations. The amendment comes into force from the date of publication in the Official Gazette. By expanding and clarifying eligible promoters, the notification refines the regulatory framework for registration of insurance business linked to Lloyd’s operations within IFSCs, ensuring greater clarity and flexibility for market participants.

INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY
NOTIFICATION
Gandhinagar, the 5th January, 2026

International Financial Services Centres Authority (Registration of Insurance
Business) (Amendment) Regulations, 2026

F.No. IFSCA/GN/2026/003.— In exercise of the powers conferred by sub-section (1) of Section 28 read with Section 12 and 13 of the International Financial Services Centres Authority Act, 2019, the International Financial Services Centres Authority hereby makes the following regulations, further to amend the International Financial Services Centres Authority (Registration of Insurance Business) Regulations, 2021 (hereinafter referred to as the ‘principal regulations’), namely :-

1. Short title and commencement: –

(1) These Regulations may be called the International Financial Services Centres Authority (Registration of Insurance Business) (Amendment) Regulations, 2026.

(2) They shall come into force from the date of their publication in the Official Gazette.

2. Sub-clause (i) of clause (1) of the Second Schedule of the principal regulations shall be substituted as under, namely:-‘Service Companies of Lloyd’s IFSC’ means Service Companies registered in India and promoted by:

(a) Managing Agents of Lloyd’s;

(b) Such group entities of Managing Agents or Members of Lloyd’s, as may be permitted by Lloyd’s; or

(c) Indian Companies which meet the criteria specified under these regulations.”

PRAVEEN TRIVEDI, Executive Director
[ADVT.-III/4/Exty./599/2025-26]

Note: The International Financial Services Centres Authority (Registration of Insurance Business) Regulations, 2021 were published in the Gazette of India Extraordinary vide notification No. IFSCA/2021-22/GN/REG016 on 20^th October, 2021. Further, amendments to these regulations were published in the Gazette of India Extraordinary vide notifications No. IFSCA/2021-22/GN/REG019 on 05^th January 2022 and No. IFSCA/GN/2024/010 on 17^th October 2024.