The International Financial Services Centres Authority (IFSCA) vide notification dated October 18, 2021 has issued the International Financial Services Centres Authority (Insurance Intermediary) Regulations, 2021. These regulations aim to put in place the process of registration and operations of insurance intermediaries in an International Financial Services Centre.
An applicant desirous of operating as an insurance intermediary in an IFSC shall submit an application to the Authority in the form specified in SCHEDULE-VI of these regulations. The application for renewal of certificate along with renewal fee as specified by the Authority shall be submitted in prescribed format at least ninety (90) days before the expiry of the certificate. The insurance intermediary shall file the periodical returns as may be specified by the Authority.
