The Insurance Regulatory and Development Authority of India (IRDAI) on April 24, 2023, notified the Master Circular on Registration of Indian Insurance Company, 2023, to specify various forms and to provide clarifications on various provisions of the IRDAI (Registration of Indian Insurance Companies) Regulations, 2022.
The following Guidelines and Circulars shall stand repealed from the date of issuance of the Master Circular:
• IRDAI (Investment by Private Equity Funds in Indian Insurance Companies) Guidelines, 2017.
• Guidelines for Listed Indian Insurance Companies, 2016 dated June 15, 2017.
• Circular No. IRDA/F&A/CIR/TRSH/195/07/2020 dated July 22, 2020, on Transfer of Shares of the Insurance Companies.
• Circular No. IRDA/F&A/CIR/EHP/162/09/2018 dated September 27, 2018, on Details of Equity Holding Pattern of Insurance Companies.
This Master Circular shall come into effect from April 24, 2023, and shall be in effect for a period of 3 years from the date of its issuance unless reviewed and/or extended earlier.
The Master circular is attached to the document.
[Circular No. IRDAI/FEI/CIR/ RIC/ 90/4/2023]
