India’s insurance regulator has approved two new entrants in the market while beginning work on new regulations following recent amendments to the country’s insurance laws.
Market participants flag that DIFC facility may lead to potential withdrawal of private insurers, while operational risks could continue to restrict vessel movements in the Strait of Hormuz.
An internal probe found 11 secondees across seven agencies removed 379 items of operational data, prompting tighter controls and one-month voluntary pay cuts for senior executives.
The Indonesian reinsurer's risk-based capital ratio fell to 163% at end-2025 from 228% a year earlier, with Fitch also assigning a negative outlook following the ratings downgrade.
The IRDAI’s draft regulations would require Indian insurers to adopt Ind AS from April 2026, with parallel reporting and independent audit checks in the first year.
