IRDAI: Declaration of NAV on a quarter ending day, which is a holiday

Insurance Regulatory and Development Authority of India

Circular REF: IRDAI/F&I/INV/CIR/248/12/2022 Dated: 26th December, 2022

Sub: Declaration of NAV on a quarter ending day, which is a holiday.

Attention is drawn to Para 2 and 3 of Schedule I to IRDAI Investment Regulations, 2016 and by virtue of the power conferred under Regulation 17 of IRDAI Investment Regulations, 2016, it is clarified that Life Insurers can declare NAV on last day of each quarter, even if it is a non-business day, to sync the published NAV of a quarter end non-business day with the NAV as per the financials of ULIP Funds on that day.

(Ammu Venkata Ramana)

GM (F&I)