The quarterly meeting of IRDAI with the insurance industry was held on 11th and 12th November 2024, in Hyderabad. Discussions delved deep into the industry’s readiness, implementation strategy, rollout plan, technology adoption in the key areas of Indian Risk-Based Capital (RBC) regime, Risk Based Supervisory Framework (RBSF) and the adoption of International Financial Reporting Standards (IFRS) i.e. Ind AS.
Other areas reflected upon during the interactions included performance of the Industry, possible areas of focus to enhance insurance penetration, important avenues for capital augmentation like listing of insurers in the revised regulatory environment.
