The Insurance Regulatory and Development Authority of India (IRDAI) on August 07, 2026, issued circular on Submission of information by insurers on monthly basis for the purpose of Index of Service Production.
This IRDAI circular directs insurers to submit specific financial data to support the Ministry of Statistics and Programme Implementation (MOSPI) in preparing the Index of Service Production (ISP). Starting July 2026, General and Health Insurers (excluding Reinsurers) must report Gross Direct Premium, Claims Paid (Direct), and Investment Income — covering both Policyholders and Shareholders. Life Insurers must report Gross Premium, Gross Benefits Paid, and Investment Income, similarly split between Policyholders and Shareholders.
Submissions are to be made through NIC (National Informatics Centre) online data templates, with formats specified in two annexures — Annexure A for Life Insurers and Annexure B for General and Health Insurers. The link to these online templates will be shared separately. Insurers must submit the required data by the 15th of the month following the reporting month, and are responsible for ensuring the information is complete and accurate at the time of submission.
The circular is issued under Section 14(2)(h) of the IRDA Act, 1999, strictly for enabling insurers to meet MOSPI's ISP data requirements. It explicitly clarifies that this new reporting obligation does not alter or override existing disclosure requirements or financial statement preparation norms under the Insurance Act, 1938, the IRDA Act, 1999, or regulations framed thereunder — making it an additional, narrowly-scoped requirement rather than a replacement for existing regulatory reporting.
[Circular No. IRDAI/F&I/CIR/MISC/102/8/2026]
