What is Insurance Regulatory and Development Authority of India (Irdai) ?

Irdai's 'Insurance for All by 2047' vision aims universal coverage, but falling penetration, rural access gaps and affordability challenges raise questions over achieving the target

Irdai Chairman Ajay Seth advocates smart regulation and deregulation to balance compliance with growth and strengthen economic activity in India

Industry sees strongest growth since FY23 as new business premium crosses Rs 4 trillion, driven by GST cut, product launches and recovery after regulatory changes

Insurance companies have shared the data on distributor commissions with Irdai as the regulator reviews distribution models amid concerns over high costs but are yet to get a response

Irdai strengthens cyber security framework with tighter board oversight, quarterly risk reviews and enhanced compliance norms for insurers and intermediaries

Panel will assess coverage, claims, product design, and consumer experience, and suggest regulatory and operational steps to boost penetration, trust, and innovation

Irdai had mandated insurers to transition to Ind AS effective April 1

Insurance stocks fall up to 4% as weak March quarter outlook, geopolitical tensions and regulatory changes weigh on growth, margins and investor sentiment

Irdai retains LIC, New India Assurance and GIC Re as systemically important insurers for FY26, mandating enhanced supervision, governance norms and risk management oversight

Irdai asks insurers to assess compliance with dark pattern norms within 15 days and submit corrective action plans within a month for any non-compliance

Irdai forms a joint expert group to guide insurers on Ind AS transition, addressing implementation challenges, audit clarity, and actuarial roles

Regulator allows one-year forbearance and extends parallel reporting to two years as insurers transition to Ind AS framework from April 2026

Indian states raised around 400 billion rupees ($4.22 billion) earlier in the day, of which 180 billion rupees, or 45% of the amount, was raised at cutoff yields ranging between 8.00% and 8.09%

Regulator directs insurers to maintain normal working hours on financial year-end to avoid inconvenience to policyholders

Irdai to set up Public Insurance Repository to strengthen data infra

In a press release following its 134th board meeting, the regulator said it had granted certificates of registration to one reinsurer and one general insurer

The Australian insurer will fully own the general insurance company after acquisition of 51% stake

However, the industry faces supply limitations and is affected by attrition in the segment

To smooth the transition, Irdai has proposed parallel reporting under both Ind AS and Indian GAAP during the first year of implementation

Irdai Chairman Ajay Seth flags acute actuarial talent shortage, says capacity building critical as India adopts risk-based capital norms and aligns with IFRS standards