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INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 5th December, 2022. Insurance Regulatory Development Authority of India (Other Forms of Capital) Regulations, 2022 F. No. IRDAI/Reg/8/187/2022.—In exercise of the powers conferred by Section 6A (1) (i) and Section 114A (2) (db) of the Insurance Act, 1938, section 26 of the Insurance Regulatory and […]
These Regulations may be called the Insurance Regulatory and Development Authority of India (Registration of Indian Insurance Companies) Regulations, 2022.
These Regulations may be called the Insurance Regulatory and Development Authority of India (Regulatory Sandbox) (Amendment) Regulations, 2022.
These regulations may be called the Insurance Regulatory and Development Authority of India (Actuarial Report and Abstract for Life Insurance Business) (Amendment) Regulations, 2022.
These regulations may be called the Insurance Regulatory and Development Authority of India (Assets, Liabilities and Solvency Margin of General Insurance Business) (Amendment) Regulations, 2022.
These Regulations may be called the Insurance Regulatory and Development Authority of India (Insurance Intermediaries) (Amendment) Regulations, 2022.
IRDAI clarified that All trades reported on NDS-OM platform shall be treated as compliance with the requirements of Para 4.11.3 of the Master Circular.
IRDAI has committed to enable ‘Insurance for All’ by 2047, where every citizen has an appropriate life, health and property insurance cover and every enterprise is supported by appropriate insurance solutions and also to make Indian insurance sector globally attractive.
Every Indian Re-insurer including Foreign Re-insurance Branches (FRBs) shall maintain a minimum retention within India of 50% of Indian reinsurance business underwritten. Any retrocession to an IIO up to 20% of Indian reinsurance business underwritten shall be reckoned towards the required minimum retention of 50%.
Salient features of the Draft IRDAI (Expenses of Management of Insurers Transacting Health & General Insurance Business) Regulations, 2022 are as under – Regulations supersede the IRDAI (Expenses of Management of Insurers transacting General or Health Insurance business) Regulations, 2016
