The Insurance Regulatory and Development Authority (‘ IRDAI ’/ ‘ Authority ’) has issued a Press Release, dated December 11, 2025 (‘ Press Release ’) on 8th Asia-Pacific High-Level Meeting on Insurance Supervision and 20th Asian Forum of Insurance Regulators (‘ AFIR ’) Annual Meeting and Seminar hosted by the Authority in Hyderabad from December 9 to 11, 2025 bringing together over 40 senior regulatory officials from 20 jurisdictions.
The key highlights of 8th Asia-Pacific High-Level Meeting on Insurance Supervision are as follows:
- The 8th Asia-Pacific High-Level Meeting (“ Meeting ”) on Insurance Supervision was organized in collaboration with the AFIR, the Financial Stability Institute (FSI) of the Bank for International Settlements (BIS), and the International Association of Insurance Supervisors (IAIS).
- In the Meeting, Mr. P K Arora, Member (Actuary), IRDAI, shared his insights on the undergoing structural shift in Asia’s insurance industry due to the rise in economic aspirations. He underscored that the protection gap is now a measurable vulnerability where innovation, robust data systems and public–private collaboration are required. He said that the digital identity, payments and data-sharing rails have enhanced trust and access due to India’s Digital Public Infrastructure which is a major financial sector innovation.
- The Meeting revolved around the discussions on the evolution and future trajectory of insurance supervisory mandates, protection gaps in the climate sector, segments of health and cyber, and the potential of Artificial Intelligence (AI) in insurance supervision.
- Ms. Petra Heilkema, Vice Chair- IAIS Executive Committee and Chair- European Insurance and Occupational Pensions Authority, outlined the regulatory developments in the European Union.
The key highlights of 20th AFIR Annual Meeting and Seminar are as follows:
- The theme of the AFIR Annual Meeting and Seminar (“ Seminar ”) was “Innovating with Trust, Including with Care: Charting the Insurance Path Ahead” .
The theme of the AFIR Annual Meeting and Seminar (“ Seminar ”) was “Innovating with Trust, Including with Care: Charting the Insurance Path Ahead” .
- Speaking at the Seminar, Mr. Rajay Kumar Sinha, Member (Finance & Investments), IRDAI, enlightened that this is the moment of Asia which is not merely a region but a powerful structural force. With its demographic momentum and developmental trends ranging from labour supply and consumption patterns to risk pools and financial strength, will play a defining role in shaping the global future. He also stressed that inclusion is both an economic imperative and a pillar of social stability. India’s goal of achieving “Insurance for All by 2047” embodies this principle, and the same vision could guide the broader Asian region, with AFIR uniquely positioned to drive this mission forward.
Speaking at the Seminar, Mr. Rajay Kumar Sinha, Member (Finance & Investments), IRDAI, enlightened that this is the moment of Asia which is not merely a region but a powerful structural force. With its demographic momentum and developmental trends ranging from labour supply and consumption patterns to risk pools and financial strength, will play a defining role in shaping the global future. He also stressed that inclusion is both an economic imperative and a pillar of social stability. India’s goal of achieving “Insurance for All by 2047” embodies this principle, and the same vision could guide the broader Asian region, with AFIR uniquely positioned to drive this mission forward.
- During the meetings and seminar, a wide array of emerging areas was covered, ranging from sound utilization of AI, evolving insurance landscapes, and strengthening financial resilience through inclusive regulation, to advancements in EV underwriting and claims innovation.
During the meetings and seminar, a wide array of emerging areas was covered, ranging from sound utilization of AI, evolving insurance landscapes, and strengthening financial resilience through inclusive regulation, to advancements in EV underwriting and claims innovation.
- Discussions also focused on reducing friction through smarter regulation, climate and disaster risk modelling, and the expanding role of Digital Public Infrastructure. Inclusive insurance innovations, technology-driven fraud prevention, closing Asian protection gaps, and operational risk management under CPS 230 was also emphasized highlighting the growing need for agile regulation, cross-border cooperation, and technology-enabled solutions to build resilient and inclusive insurance markets across Asia.
Discussions also focused on reducing friction through smarter regulation, climate and disaster risk modelling, and the expanding role of Digital Public Infrastructure. Inclusive insurance innovations, technology-driven fraud prevention, closing Asian protection gaps, and operational risk management under CPS 230 was also emphasized highlighting the growing need for agile regulation, cross-border cooperation, and technology-enabled solutions to build resilient and inclusive insurance markets across Asia.
- The Chairman, IRDAI, was unanimously elected as Chair of the Asian Forum of Insurance Regulators at the 9th General Meeting of Members at the 2025 AFIR for the upcoming term of two years.
The Chairman, IRDAI, was unanimously elected as Chair of the Asian Forum of Insurance Regulators at the 9th General Meeting of Members at the 2025 AFIR for the upcoming term of two years.
A copy of the Press Release is attached for your ready reference.
Source category: IRDAI
Attachments
- IRDAI Hosts 8th Asia-Pacific High-Level Meeting on Insurance Supervision and 20th AFIR
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