The Insurance Regulatory and Development Authority of India (IRDAI) on October 13, 2022, issued the draft of the Insurance Regulatory and Development Authority of India (Registration of Indian Insurance Companies) Regulations, 2022.
The following major changes have been considered:
• To provide the fit and proper criteria.
• To provide the limits of investment in insurers.
• To provide the lock-in period on investment in insurers.
• To simplify the process of registration of insurance companies.
• To provide criteria for investment by Private Equity Funds.
The views/comments of the various stakeholders and the general public are invited to the exposure draft. The comments/suggestions, if any, may be sent on or before November 03, 2022, to Mr. Nirmal Jain at [email protected] with a copy to Mr. Mahesh Agarwal at [email protected] in the format as per Annexure B.
The draft of the IRDAI (Registration of Indian Insurance Companies) Regulations, 2022 is attached as Annexure A.
Disclaimer – Kindly find Annexures in the provided Link/Document.
