IRDAI has issued Exposure Draft of IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Indian Insurance Companies) Regulations, 2024. As part of the comprehensive review of Regulations being undertaken by the IRDAI, to enhance the ease of doing business and also reduce compliance burden for stakeholders while also ensuring that interests of policyholders continues to be protected, Insurance Councils were asked to submit their recommendations.
Councils constituted the Regulations Review Committee (RRC). The RRC recommended IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Indian Insurance Companies)
Regulations, 2024 after consolidating the following regulations:
- IRDAI (Registration of Indian Insurance Companies) Regulations, 2022
- IRDAI (Other Forms of Capital) Regulations, 2022
- IRDAI (Manner of Assessment of Compensation to Shareholders or Members on Amalgamation) Regulations, 2021
- IRDAI (Issuance of Capital by Indian Insurance Companies transacting other than Life Insurance business) Regulations, 2015
- IRDAI (Issuance of Capital by Indian Insurance Companies transacting Life Insurance business) Regulations, 2015
- IRDAI (Scheme of Amalgamation and Transfer of Life Insurance Business) Regulations, 2013
- IRDAI (Scheme of Amalgamation and Transfer of General Insurance Business) Regulations, 2011
