1. The Authority has notified the IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) Regulations, 2024 (hereinafter referred to as “Registration Regulations, 2024”). In exercise of the powers conferred by section 34 of the Insurance Act, 1938 (hereinafter referred to as “the Act”), section 14 of the IRDA Act, 1999 and Regulation 59 and 60 of Registration Regulations, 2024, the Authority hereby issues this Master Circular to specify various forms as referred in the Registration Regulations, 2024 and to provide clarifications on various provisions of the Registration Regulations, 2024.
2. This Master Circular shall be applicable to all Insurers (excluding Foreign Reinsurer’s Branches) and applicants seeking registration to carry on insurance business.
3. This Master Circular shall come into force from the date of its issuance.
4. This has approval of the Competent Authority.
