A government-backed report points to captives and other alternative risk-transfer mechanisms as insurers grapple with rising catastrophe and cyber exposures.
Ajay Seth says IRDAI has checked its industry-sourced data repeatedly and will accept a better interpretation if one comes through the consultation with evidence to support it.
The insurer expects Prudential of Japan's return to market to take up to 18 months, with sales set to resume in February 2027 under a phased reopening.
Subramanian also pushed back against claims that the overhaul would lead to widespread job losses, adding that reforms would expand the distribution network.
The insurers have been ordered to overhaul compensation structures, strengthen sales oversight and submit externally reviewed remediation plans by November.
Upcoming capital reforms and tighter underwriting discipline should support earnings stability, although volatility is likely to persist in the near term.
