The insurance regulatory reforms in early 2015 increased the permitted equity investment of foreign insurers from 26% to 49%. However, insurers and intermediaries will now need to demonstrate "Indian control" of the company.

Certain IRDAI regulations and their corresponding master circulars require insurers and reinsurers, to submit certain returns on a periodical basis.

To ensure compliance with the provisions of IRDAI (Re-Insurance) Regulations, 2018, IRDAI reiterated that every insurer is required to submit the advance reinsurance programme...

Aptec entered into a contract with the Ministry of Defence for the supply of mountaineering boots for the defence forces. The Ministry received the goods and after inspecting them, it made a payment on account to Aptec.

IRDAI issued IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024 ("AFIF Regulations")1 which are applicable to all insurers, including reinsurers.

In line with Section 101A of the Insurance Act, insurers are required to reinsure with Indian re-insurers a specified percentage of the sum assured on each policy ("Mandatory Cessions").

Late last year, the IRDAI had released an exposure draft on regulations governing the establishment and operation of the proposed Indian branch of the Lloyd's of London.

Lloyd's of London ("Lloyd's") has recently obtained final regulatory approval from the Insurance Regulatory and Development Authority of India ("IRDAI")...

On July 26, 2019, CCI dismissed allegations made by Indian Chemical Council (‘Informant') against ...

The year 2015 will undoubtedly hold tremendous importance in the history of India's insurance regulatory landscape.

The long awaited Insurance Laws (Amendment) Bill (the Bill) will finally become a law in India as it has been passed by the Parliament of India.

On October 4 2012 the Cabinet approved an increase in the cap on foreign investment in the insurance and pension sectors from the existing 26% to 49%.

In 2019, a number of pharmaceutical companies proceeded against GIC Re before the Delhi High Court to challenge the revision of reinsurance premium rates.

Special Economic Zones (or SEZs as they are popularly referred to) have been established in India to promote trade and investment by enabling industries to produce and trade goods at globally competitive prices.

RGA International Reinsurance Company DAC, an Ireland-based life reinsurer entered into reinsurance arrangements with Indian insurers and received reinsurance premiums for assuming risk overseas.

We have written about the Group of Companies doctrine before. The Supreme Court has recently extended the doctrine to reinsurance arrangements.

The long awaited increase in foreign holdings in an Indian insurance company from 26% to 49% is at long last law but, rather than becoming law through the usual legislative process, it has become law through an unusual and temporary device: an ordinance.

The long awaited Insurance Laws (Amendment) Bill (the "Bill") has become a provisional law in India.

On 30 October 2015 the Insurance Regulatory and Development Authority of India released the eagerly awaited Insurance Regulatory Development Authority of India Regulations, 2015.

Detariffication has been a topic of debate in the Indian insurance market almost since the market was denationalised at the turn of the millennium.