IRDAI – Press Release on engagement with USISPF to strengthen global collaboration

The Insurance Regulatory Authority of India (“ IRDAI ”) issued a Press Release dated March 10, 2026 (“ Press Release ”), regarding a virtual engagement with US-based stakeholders organized in collaboration with the US-India Strategic Partnership Forum (“ USISPF ”).

The key highlights of the Press Release are as follows:

• IRDAI collaborated with USISPF via a virtual engagement dated March 9, 2025 with US based stakeholders representing a wide spectrum of financial services ecosystem.
• US – India Strategic Partnership Forum (“ USISPF ”) is a non-profit, non-governmental and non-partisan organisation with offices in Washington D.C. and New Delhi that works to strengthen economic and strategic engagement between India and the United States by facilitating dialogue among businesses, policymakers and other stakeholders.
• The engagement formed part of IRDAI’s continued efforts to deepen international engagement and facilitate exchange of perspectives on developments shaping the Indian insurance sector.
• During the interaction, IRDAI highlighted opportunities emerging in the Indian insurance market and provided an overview of recent regulatory developments in the sector.
• The Authority further discussed the expected impact of the proposed Sabka Bima Sabki Raksha Act, 2025 and ongoing reforms including implementation of Indian Accounting Standards (“ Ind-AS” ), which aim to strengthen governance standards while fostering transparency, innovation and market integrity in the insurance industry.
• The participants shared perspectives on global trends, evolving regulatory practices and emerging opportunities in the insurance and financial services sectors.
• The Chairman of IRDAI, Shri Ajay Seth, highlighted the importance of continued global engagement in strengthening the insurance ecosystem and stated, “Engaging with international stakeholders allows us to better understand global perspectives, share our regulatory approach and better align with evolving market dynamics.”
• IRDAI reiterated its commitment to maintaining open and constructive engagement with domestic and international stakeholders to support the development of a stable, transparent and well-regulated insurance sector in India.

A copy of the Press Release is attached herewith for your ready reference.

Source category: IRDAI

Attachments

• IRDAI engages with USISPF to strengthen global collaboration