The Insurance Regulatory and Development Authority of India (IRDAI) on June 19, 2026, issued a notification regarding proposed amendments to Reinsurance Regulations, 2026.
The following has been stated:-
•The Insurance Regulatory and Development Authority of India (IRDAI) has proposed amendments to the IRDAI (Registration and Operations of Foreign Reinsurers Branches and Lloyd’s India) Regulations, 2024, to align them with the provisions of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025.
•The amendments aim to strengthen the reinsurance regulatory framework, promote market growth, and remove interpretational ambiguities.
•Key changes include reducing the net owned funds requirement for applicants from ₹5,000 crore to ₹1,000 crore, introducing standardized registration forms, and restructuring provisions related to registration, rejection, and revocation processes.
•Additional provisions cover suspension or cancellation of registration, transfer of business, and maintenance of reinsurance contract and claims records.
•IRDAI has invited stakeholder comments on the draft regulations by July 10, 2026.
The detailed notification is given in the document below.
