IFSCA (Registration of Insurance Business) Regulations, 2021

Last updated: 22 October 2021

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The International Financial Services Centres Authority (Registration of Insurance Business) Regulations, 2021, have been established to outline the procedures for registering and operating insurers and re-insurers within an International Financial Services Centre. These regulations fall under the purview of the International Financial Services Centres Authority Act, 2019. They define various entities eligible to apply, including existing Indian insurers, foreign insurers, Lloyd's entities, and specific corporate structures.

INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 18th October, 2021 International Financial Services Centres Authority (Registration of Insurance Business) Regulations, 2021 F. No. IFSCA/2021-22/GN/REG016. -In exercise of the powers conferred by sub-section (1) of Section 28 read with Section 12 and 13 of the International Financial Services Centres Authority Act, 2019, the International Financial Services Centres Authority hereby makes the following Regulat

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FAQ :

These regulations aim to establish the process for the registration and operation of insurers and re-insurers within an International Financial Services Centre under the regulatory authority of the International Financial Services Centres Authority Act, 2019.

The regulations came into force on the date of their publication in the Official Gazette.

An 'Applicant' can be an insurer registered with IRDAI, a foreign insurer or re-insurer, a Society of Lloyd's, a branch office of a foreign insurer, a public company or subsidiary of an insurer/re-insurer, an insurance co-operative society, or a body corporate incorporated outside India (not a private company).

These regulations are made in exercise of powers conferred by the International Financial Services Centres Authority Act, 2019.

The regulations cover the registration of insurers and re-insurers, including Indian registered insurers, foreign entities, Lloyd's related entities, and specific corporate structures like public companies and co-operative societies.

Notification No : F. No. IFSCA/2021-22/GN/REG016.
Source : https://ifsca.gov.in/Viewer/Index/237

Attached File : 322600_10815_19_ifsca_registration_of_insurance_business_regulations_202121102021061140.pdf

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