Pursuant to Insurance Regulatory and Development Authority of
India's commitment to facilitate "Insurance for
All" by the year 2047, it has introduced certain
amendments in the regulatory framework applicable to insurers.
Broadly, these are, inter alia, intended to increase
the ease of setting up insurance companies and reduce the burden of
compliance for investment.
A summary of some key changes is as under:
IRDAI (Registration of Indian Insurance Companies)
Regulations, 2022
Insurance Regulatory and Development Authority of India
('IRDAI'), through issuance of the IRDAI
(Registration of Indian Insurance Companies) Regulations, 2022
('Revised Registration Regulations') on
December 05, 2022, has subsumed and replaced the erstwhile IRDAI
(Registration of Indian Insurance Companies) Regulations, 2000 and
IRDAI (Transfer of Equity Shares) Regulations, 2015 (collectively,
'Superseded Regulations') with the Revised
Registration Regulations. The Revised Registration
