Summary: The Insurance Regulatory and Development Authority of India (IRDAI), vide Circular No. IRDAI/INT/CIR/MISC/122/9/2026 dated 22 September 2026, has repealed the Guidelines on repatriation of dividends by insurance intermediaries having majority by foreign investors, issued under Ref. No. IRDAI/INT/GDL/MISC/004/01/2020 dated 03.01.2020. The repeal follows the notification of the IRDAI (Insurance Intermediaries) (Amendment) Regulations, 2026 on 30.07.2026. These Amendment Regulations align the regulatory framework governing insurance intermediaries with the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 and the Indian Insurance Companies (Foreign Investment) Amendment Rules, 2025. The Amendment Regulations have, among other changes, removed the requirement for insurance intermediaries to obtain prior approval from IRDAI for repatriation of dividends and have also removed the condition relating to related party payments. Consequently, the 2020 Guidelines governing dividend repatriation by insurance intermediaries having majority foreign investors are no longer required. IRDAI has therefore repealed those Guidelines with effect from 30.07.2026. The circular has been issued with the approval of the competent authority.
Insurance Regulatory and Development Authority of India
Circular No.: IRDAI/INT/CIR/MISC/122/9/2026 | Dated: 22nd Sep. 2026
To,
All Insurance Intermediaries
Subject: Repeal of the ‘Guidelines on repatriation of dividends by insurance intermediaries having majority by foreign investors’ (IRDAI/INT/GDL/MISC/004/01/2020 dated 03.01.2020)
1. The Insurance Regulatory and Development Authority of India (IRDAI) has notified the IRDAI (Insurance Intermediaries) (Amendment) Regulations, 2026 on 30.07.2026 to align the regulatory framework governing insurance intermediaries with the provisions of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 and the Indian Insurance Companies (Foreign Investment) Amendment Rules, 2025.
2. The Amendment Regulations, inter alia, have removed the requirement of obtaining prior approval of the Authority for the repatriation of dividends and the condition on related party payments.
3. Accordingly, the Guidelines on repatriation of dividends by insurance intermediaries having majority by foreign investors issued vide Ref. No. IRDAI/INT/GDL/MISC/004/01/2020 dated 03.01.2020 are hereby repealed with effect from 30.07.2026.
4. This circular is issued with the approval of the competent authority.
Yours faithfully,
(Anita Josyula)
Chief General Manager – (Intermediaries)
