The IFSCA has issued a Consultation Paper on Management Control, Administrative Control and Market conduct of Insurance Business (Draft Regulations) dated February 21, 2023 and requested the participants to share their comments/ views/ feedbacks. Objective: In
IRDAI vide its circular ref. no. IRDAI/NL/CIR/MTP/54/02/2023, dated February 20, 2023 has issued Circular on ‘Treatment of inward Co-Insurance while reporting MTP Obligations’ (Circular). Major highlights of the Circular are as follows: The Circular draws reference
International Financial Services Centres Authority (IFSCA or Authority)) vide its Press Release dated February 17, 2023 has sought comments / suggestions from general public and stakeholders on Consultation paper on proposed IFSCA (Re-Insurance) Regulations, 2023 (“Proposed
IRDAI vide its order bearing Ref No: IRDAI/F&I/CIR/INV/42/02/20233 dated February 9, 2023 has constituted a Consultative Committee on Investments. In order to monitor the dynamic financial markets on a continuing basis, to review the regulatory framework
IRDAI vide Circular ref no. F. No. IRDAI/RI/1/189/2023 dated January 30, 2023 has notified obligatory cession for the financial year 2023-24. . The notification shall be applicable to Indian Re-insurers and other applicable insurers as per
IRDAI vide Circular ref. no. IRDAI/F&I/INV/CIR/027/01/2023, dated January 31, 2023 has issued clarifications on miscellaneous matters relating to the Master Circular on investment issued by the IRDAI dated October 27, 2022. Major highlights of the Circular
IRDAI vide ref. no. IRDAI/F&I/CIR/MISC/26/01/2023, dated January 30, 2023 has issued a Circular wherein insurers are permitted to pay Profit Related Commission to Non-Executive Director(s)” The major highlights of the Circular are as follows:- In order
IRDAI vide Circular No: IRDAI/NL/CIR/MISC/21/01/2023 dated January 19, 2023 has issued “Guidelines on Insurance claims of victims of Subsidence and Landslides in the calamity affected areas in the State of Uttarakhand” (“Guidelines”) The major highlights of
IRDAI vide Circular Ref. IRDAI/F&I/CIR/INV/20/1/2023 dated January 19, 2022 issued a Circular on Clarification on classification of shares issued by virtue of demerger to Insurance Companies. The relevant extracts of regulatory prescriptions provided in the circular
IRDAI vide Circular Ref. IRDAI/INV/CIR/16/01//2023 dated January 13, 2022 issued a Circular on Sovereign Green Bonds (SGrBs) — Categorisation and Classification Major highlights of the Circular The Circular captures insights on the Sovereign Green Bonds (SGrBs)