The IRDAI has placed the minutes of its 131st meeting held on April 15, 2025, on its website.
The key highlights of the meeting are as follows-
- In absence of Chairperson, Shri Parmod Kumar Arora (Whole-time Member) was elected to preside over the 131st meeting of the Authority by all the Members present.
- In FY 2025, the Insurance industry saw a 5.61% increase in premiums, reaching 11.80 lakh crore rupees, with Life Insurers growing by 5.43% and General Insurers by 6.11%. April 2025 saw an 11.67% rise in premium collections.
In FY 2025, the Insurance industry saw a 5.61% increase in premiums, reaching 11.80 lakh crore rupees, with Life Insurers growing by 5.43% and General Insurers by 6.11%. April 2025 saw an 11.67% rise in premium collections.
- The AUM of the industry has grown to 73.67 lakh crore rupees, up from 68 lakh crore rupees in the previous year. Foreign Direct Investment totalled ₹89,007 crore for Insurers and ₹5,000 crore for Intermediaries as of January 2025.
The following Agenda Items were discussed:
- Recruitment made in 2024 was highlighted where 49 vacancies were notified for Assistant Manager (AM) position.
- A total of 18,655 candidates appeared for the Phase I (objective) exam. Following the Phase II (descriptive) exam conducted by NIA, Pune, 257 candidates were shortlisted for Phase III (Interview).
- On the basis of performance in Phase II and III, 49 candidates were selected. Induction training is being given for 17 weeks to the selected candidates which commenced from April 07, 2025, at IIRM, Hyderabad.
- In the meeting, it was decided that there shall be suitable manpower evaluating the organizational requirements of various cadres, specialization, need for regional presence of the regulator etc.
The agenda was noted.
Source category: IRDAI
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