Insurance Regulatory and Development Authority of India Archives - InsuranceAsia News https://insuranceasianews.com/companies_category/insurance-regulatory-and-development-authority-of-india/ Thu, 01 Jan 2026 09:25:21 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 Indian regulator fines Reliance General Insurance US$111,000 for violating outsourcing, commission rules https://insuranceasianews.com/indian-regulator-fines-reliance-general-insurance-us111000-for-violating-outsourcing-commission-rules/ Thu, 01 Jan 2026 09:25:21 +0000 https://insuranceasianews.com/?p=207831 Insurance Regulatory and Development Authority of India penalised the insurer after a remote inspection uncovered improper payments, governance lapses and the use of an external agent without adequate justification.

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The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a US$111,000 penalty on Reliance General Insurance after determining it breached multiple regulatory requirements.
The b...

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]]> India edges closer to 100% FDI limit in insurance: reports https://insuranceasianews.com/india-edges-closer-to-100-fdi-limit-in-insurance-reports/ Mon, 24 Nov 2025 09:21:08 +0000 https://insuranceasianews.com/?p=205258 Government to introduce a bill during the parliament’s winter session, which starts on Monday, seeking to increase the foreign direct investment (FDI) limit from 74%.

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India is preparing to table the Insurance Laws (Amendment) Bill, which proposes to raise the foreign direct investment (FDI) limit in the insurance sector to 100%, during the winter session of parliam...

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]]> IRDAI’s new chief calls for lower broker commissions: report https://insuranceasianews.com/irdais-new-chief-calls-to-lower-broker-commissions-report/ Thu, 25 Sep 2025 14:27:36 +0000 https://insuranceasianews.com/?p=200696 India’s insurance regulator is weighing a shift in commission governance, urging insurers to adopt a tiered expense framework similar to mutual funds amid rising scrutiny over distribution costs and their impact on policyholder premiums, media reports said.

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The Insurance Regulatory and Development Authority of India (IRDAI) has raised fresh concerns over rising commissions and distribution costs and urged insurers to consider a mutual fund-style framewor...

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]]> Axa France Vie withdraws India reinsurance branch licence https://insuranceasianews.com/axa-france-vie-withdraws-india-reinsurance-branch-licence/ Wed, 20 Aug 2025 09:53:56 +0000 https://insuranceasianews.com/?p=197980 The French (re)insurance group's subsidiary in India, XL Insurance India reinsurance branch, led by Alok Shukla, will continue to operate in the market.

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Axa France Vie India reinsurance branch, part of French insurance group Axa, has surrendered its certificate of registration to act as a foreign reinsurance branch in India, according to a press relea...

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]]> India appoints former finance secretary Ajay Seth as IRDAI chairman https://insuranceasianews.com/india-appoints-as-ajay-seth-as-irdai-chairman/ Thu, 24 Jul 2025 11:35:01 +0000 https://insuranceasianews.com/?p=196038 The all-important regulatory post has been lying vacant for over four months, after the tenure of the previous chairman Debasish Panda ended in March.

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The government of India has appointed former economic affairs secretary Ajay Seth as the new chairman of the Insurance Regulatory and Development Authority of India (IRDAI), according to local media r...

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]]> Search for new IRDAI head hits roadblock: report https://insuranceasianews.com/search-for-new-irdai-head-hits-roadblock-report/ Tue, 22 Jul 2025 06:37:17 +0000 https://insuranceasianews.com/?p=195744 Top candidates for the role of chairman of the Insurance Regulatory and Development Authority of India (IRDAI) are reported to be unwilling to relocate to Hyderabad.

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The Insurance Regulatory and Development Authority of India (IRDAI) is facing challenges in appointing a new chairman as several potential candidates are reportedly reluctant to relocate to Hyderabad,...

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]]> India’s insurance regulator sets up committee to vet licence applications: reports https://insuranceasianews.com/indias-insurance-regulator-sets-up-committee-to-vet-licence-applications-reports/ Wed, 16 Jul 2025 08:50:51 +0000 https://insuranceasianews.com/?p=195343 Insurance Regulatory and Development Authority of India also approves the first stage of an application from Kiwi General Insurance.

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The Insurance Regulatory and Development Authority of India (IRDAI) has constituted a high-level committee to assess licence applications from two proposed general insurers, according to various news ...

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]]> IRDAI chairman race gets new entrant as process drags on: report https://insuranceasianews.com/irdai-chairman-race-gets-new-entrant-as-process-drags-on-report/ Tue, 01 Jul 2025 09:14:26 +0000 https://insuranceasianews.com/?p=194190 India’s financial services secretary Maddirala Nagaraju is the new name being considered as the post lies vacant since March 2025, holding up key reforms at a crucial time for the industry 

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India’s financial services secretary Maddirala Nagaraju is among the leading names being considered for the Insurance Regulatory and Development Authority of India (IRDAI) chairman’s post, which has b...

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]]> Without a captain of the ship, are India’s insurance reforms in danger of being blown off course? https://insuranceasianews.com/without-a-captain-of-the-ship-are-indias-insurance-reforms-in-danger-of-being-blown-off-course/ Mon, 19 May 2025 23:30:39 +0000 https://insuranceasianews.com/?p=190822 As the sector enters a 'seminal period of transformation', the Insurance Regulatory and Development Authority (IRDAI) has been without a chairman for over two months after Debasish Panda completed his three-year term in March.

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Indecisiveness is rarely looked upon favourably by the chattering classes, so it should come as no surprise that the failure of the authorities in India to appoint a new chairman of the important Insu...

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]]> India’s reforms on hold as IRDAI seeks new chairman: report https://insuranceasianews.com/indias-reforms-on-hold-as-irdai-seeks-new-chairman-report/ Fri, 16 May 2025 06:58:48 +0000 https://insuranceasianews.com/?p=190734 Debasish Panda completed his three-year term as chairman of the Insurance Regulatory & Development Authority of India (IRDAI) on March 13. 

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A two-month delay in appointing a new chairman of India's insurance regulator is holding up key reforms at a crucial time for the industry, according to a newspaper report.
The Insurance Regulatory &a...

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