IRDAI OKs rural, social sector, motor 3rd-party obligations for FY26, FY27
This story was originally published at 17:33 IST on 15 July 2025
Register to read our real-time news.Informist, Tuesday, Jul. 15, 2025
--IRDAI gives 1st stage approval for registration to Kiwi General Insurance
--IRDAI OKs rural, social sector, motor 3rd-party obligations for FY26, FY27
--IRDAI forms panel to consider specific share transfer applications
NEW DELHI – Insurance Regulatory and Development Authority of India Monday approved rural, social sector, and motor third party obligations for 2025-26 (Apr-Mar) and FY27, the regulator said in a release Tuesday. The regulator had in March 2024 notified the minimum numbers of life insurance, fire and motor insurance policies that life and health insurers have to sell in rural areas and gram panchayats to cover the socially vulnerable.
IRDAI also approved Kiwi General Insurance Ltd's R1 application, which gives the first stage approval in the registration process of an insurance company. In terms of delegation of powers by IRDAI, it formed a panel of whole-time members to consider specific share transfer applications and other matters.
IRDAI has created panels of whole-time members to decide on the violations by insurers and insurance intermediaries, the regulator said. At the meeting, IRDAI discussed the implementation of Risk Based Capital, aimed at allowing insurers to manage capital more efficiently. The results from the impact assessment from the first quantitative impact study were also deliberated upon.
"The Technical Guidance document for carrying out the QIS 2 (Quantitative Impact Study) has been updated considering inputs received from insurers and working groups," IRDAI said. "The template for data submission is also being reviewed through dry run. An updated Technical Guidance Document along with internally designed template will be released soon. Insurers will be required to complete the exercise in two to three months." End
Reported by Shubham Rana
Edited by Vandana Hingorani
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
