IRDAI vide ref. no. IRDAI/Reg/9/188/2022, dated December 5, 2022 had issued “IRDAI (Registration of Indian Insurance Companies) Regulations, 2022.” (“Regulations”). This Regulation was in amendment to the erstwhile “IRDAI (Registration of Indian Insurance Companies) Regulations, 2000.” (“Previous Regulations”).
A number of prescriptions, governing different aspects of registration of an Insurance Company were issued by IRDAI at different point of time in the form of Guidelines and Circulars under the “Previous Regulations”. A list of such prescriptions are:
- IRDAI (Investment in Private Equity Firms in Indian Insurance Company) Guidelines, 2017
- Guidelines for listed Indian Insurance Companies, 2016 dated June 15, 2017.
- Circular No IRDA/F&A/CIR/TRSH/195/07/2020 dated July 22, 2020 on transfer of shares of the Insurance Companies.
- Circular No IRDA/F&A/CIR/EHP/162/09/2018 dated Sept 27, 2018.
By virtue of the present master guideline issued by IRDAI, in the name of Master Circular on Registration of Indian Insurance Company, 2023 (“The Master Circular”) has consolidated the above four regulatory prescriptions under the “Previous Regulations” to form “The Master Circular, which also is in consonance with the Regulations”.
The Master Circular is effective from April 24, 2023 to April 23, 2026 unless reviewed/or extended earlier to April 23, 2026.
Source category: IRDAI
Attachments
- /2023/191_Master_Circular_on_Registration_of_Indian_Insurance_Company,_2023.pdf
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