The IRDAI has placed the Minutes of its 130th Meeting of the Authority, held on 15th April 2025, on its website. The key highlights of the meeting are as follows:
- In the absence of the Chairperson, Shri Parmod Kumar Arora, Whole-time Member, was unanimously elected by the Members present to preside over the 130th Meeting of the Authority.
- The Chair highlighted the growth of the insurance industry, with total premium collections reaching Rs. 10.33 lakh crore, reflecting an overall growth of 6.69%. The Life Insurance sector recorded a growth of 6.65%, while the General Insurance sector registered a growth of 6.81%.
The following agenda items were discussed:
- As the Chairperson demitted office on 13th March 2025, the Authority discussed the various powers delegated to the Chairperson under the Insurance Act, 1938, the Insurance Regulatory and Development Authority Act, 1999, and the applicable Regulations and Guidelines.
- It was decided that, in the absence of a Chairperson, decisions relating to the day-to-day functioning of the IRDAI shall continue to be governed by the Delegation of Powers approved during the 116th Meeting of the Authority held on 22nd December 2021.
- The agenda was noted by the Authority.
- The detailed Delegation of Powers applicable when the office of the Chairperson is vacant has been provided as Annexure A to the Minutes.
A copy of the Minutes of the 130th Meeting of the Authority is attached herewith for ready reference.
Source category: IRDAI
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