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Informist, Friday, Aug. 21, 2026

 

MUMBAI – The Insurance Regulatory and Development Authority of India has directed Edelweiss Life Insurance Co. Ltd. not to open any new place of business for six months for exceeding the prescribed expenses of management limits for 2024-25 (Apr-Mar). The regulator also warned the insurance company for failing to ensure compliance with the applicable expense limits, according to an order by IRDAI dated Aug 20.

 

The insurer exceeded the allowable expenses by a total of INR 899.5 million during FY25. Expenses under the non-participating segment, including linked policies, were INR 5.59 billion against the allowable INR 4.94 billion, while expenses under the participating segment were INR 2.65 billion against the allowable INR 2.40 billion.

 

IRDAI said it did not accept Edelweiss Life's request for forbearance for 2024-25, noting that the insurer had also exceeded the expense limits in FY24.

 

The regulator asked the company to place the order before the board provides a copy of the minutes within 15 days of the meeting.  End

 

Reported by Meera Nair

Edited by Saji George Titus

 

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