**Executive Summary**
The document is a press release summarising the key decisions made at the 132nd meeting of the Authority held on July 14, 2025. The meeting covered approvals for rural, social sector and motor third party obligations, release of a technical guidance document, approval of an R1 application, and other regulatory matters. Insurers are required to complete the Ind-RBC exercise within two to three months.
**Key Points / Main Content**
* **Rural, Social Sector and Motor Third Party Obligations (FY 2025-26 & FY 2026-27)**
* IRDAI (Rural, Social Sector and Motor Third Party Obligations) Regulations, 2024 for FY 2025-26 and FY 2026-27 were approved.
* **Technical Guidance Document for Second Quantitative Impact Study (QIS 2)**
* Technical Guidance document for QIS 2 implementation of Ind-RBC released.
* Document updated based on insurer and working group input.
* Data submission template being reviewed.
* Updated technical guidance document with template to be released soon.
* **R1 Application Approval**
* R1 application of M/s Kiwi General Insurance Ltd. approved.
* **Other Important Agendas**
* Clarifications/modifications approved for ease of doing business regarding:
* IRDAI (Maintenance of Information by the Regulated Entities and Sharing of information by the Authority) Regulations, 2025.
* Revised Guidelines on Insurance Repositories and Electronic Issuance of Insurance Policies (Reference IRDAI/INT/GDL/INSRE/111/05/2015 dated 29th May 2015).
* Panels of Whole-Time Members formed to decide on violations of the Insurance Act and Regulations regarding Insurers/Insurance Intermediaries.
* Panel of Whole-Time Members formed to consider specific share transfer applications and other matters under delegation of powers.
**Impact Analysis**
**Insurers**
* **Impact:** Required to implement Ind-RBC standards using the released Technical Guidance document. Subject to potential enforcement actions related to Insurance Act violations.
* **Action Required:** Complete the Ind-RBC exercise within two to three months.
**Regulated Entities**
* **Impact:** Need to adhere to the clarifications/modifications regarding information maintenance and sharing regulations.
* **Action Required:** Ensure compliance with updated regulations concerning data management and sharing.
**M/s Kiwi General Insurance Ltd.**
* **Impact:** Their R1 application has been approved, which is the first step towards registration as an insurance company.
* **Action Required:** Proceed with the next steps in the insurance company registration process.
Key Entities Referenced
IRDAI (Meetings) Regulations 2000: Governs the conduct of meetings of the Insurance Regulatory and Development Authority of India (IRDAI).
IRDAI (Rural, Social Sector and Motor Third Party Obligations) Regulations, 2024: Regulations related to rural, social sector, and motor third party insurance obligations.
Ind-RBC: Risk Based Capital framework for the insurance sector.
Hyderabad: Location where IRDAI meeting was held.
IRDAI (Maintenance of Information by the Regulated Entities and Sharing of information by the Authority), Regulations 2025: Regulations related to the maintenance and sharing of information by regulated entities.
प्रेस िवज्ञ��
Press Release
आईआरडीए (बैठकें ) िविनयम, 2000 के उपबंधो ं के अनुसार प्रािधकरण की 132वी ंबैठक 14 जुलाई
2025 को आईआरडीएआई, हैदराबाद में संप� हुई। उ� बैठक में िवचार-िवमशर् िकये गये/अनुमोिदत
िकये गये नेमी िविनयामक और प्रशासिनक िवषयो ं के अित�र�, िन�िल�खत प्रमुख पहलुओ ं ने
प्रािधकरण का अनुमोदन प्रा� िकयाः
1. िव�ीय वषर् 2025-26 और िव�ीय वषर् 2026-27 के िलए ग्रामीण, सामािजक क्षेत्र तथा
मोटर अ� पक्ष दािय�
िव�ीय वषर् 2025-26 और िव�ीय वषर् 2026-27 के िलए आईआरडीएआई (ग्रामीण, सामािजक क्षेत्र तथा
मोटर अ� पक्ष दािय�) िविनयम, 2024 के अंतगर्त ग्रामीण, सामािजक क्षेत्र और मोटर अ� पक्ष दािय�
अनुमोिदत िकये गये।
2. इंड-आरबीसी के कायार्�यन हेतु दूसरे मात्रा�क प्रभाव अ�यन (�ूआईएस 2) के
िलए तकनीकी मागर्दशर्न द�ावेज का िनम�चन
जो�खम आधा�रत पूँजी (इंड-आरबीसी) के कायार्�यन के संबंध में अद्यतन ��ित पर चचार् की गई, जो
बीमाकतार्ओ ं के जो�खम प्रोफाइल आधार पर, पूँजी के इ�तम उपयोग से यु� रूप में समग्र वृ�द्ध के
उद्दे� के साथ िवकास कायर्सूची का अनुसरण करने के िलए एक मु� क्षेत्र है। प्रथम मात्रा�क प्रभाव
अ�यन (�ूआईएस 1) के द्वारा प्रभाव के आकलन से प्रा� प�रणामो ंपर भी िवचार-िवमशर् िकया गया।
बीमाकतार्ओ ं और कायर्-दलो ंसे प्रा� िनिवि�यो ंको �ान में रखते हुए �ूआईएस 2 संचािलत करने के
िलए तकनीकी मागर्दशर्न द�ावेज को भी अद्यतन बनाया गया है। प्रायोिगक तौर पर चलाने (ड�ाई रन)
के द्वारा डेटा प्र�ुतीकरण के िलए टेम्�ेट की भी समीक्षा की जा रही है। आंत�रक रूप से अिभक��त
टेम्�ेट के साथ ही, एक अद्यतनीकृ त तकनीकी मागर्दशर्न द�ावेज शीघ्र ही जारी िकया जाएगा।
बीमाकतार्ओ ं से अपेिक्षत होगा िक वे उ� कायर् का िन�ादन दो से तीन महीनो ंके अंदर पूरा करें।
3. आर1 आवेदन का अनुमोदन, जो िकसी भी बीमा कं पनी के पंजीकरण की प्रिक्रया में
प्रथम चरण अनुमोदन है।
मेससर् िकवी जनरल इं�ोरेंस िल. के आर1 आवेदन का अनुमोदन िकया गया।
14. स��िलत अ� मह�पूणर् कायर्सूिचयाँ
i. �वसाय करने की सुगमता के िलए वतर्मान िविनयामक शत� में कु छ ��ीकरणो/ं संशोधनो ं
का अनुमोदन िन�िल�खत के संबंध में िकया गयाः
• आईआरडीएआई (िविनयिमत सं�ाओ ंद्वारा सूचना का अनुरक्षण और प्रािधकरण द्वारा
सूचना की साझेदारी) िविनयम, 2025
• बीमा �रपोिजट�रयो ं और बीमा पािलिसयो ं के इले��ािनक िनगर्म संबंधी संशोिधत
िदशािनद�श (संदभर्ः आईआरडीएआई/आईएनटी/जीडीएल/आईएनएसआरई/111/
05/2015 िदनांक 29 मई 2015)
ii. प्रवतर्न कायर् के भाग के रूप में, कु छ बीमाकतार्ओ/ं बीमा म�वितर्यो ं के िवषय में बीमा
अिधिनयम और उसके अधीन जारी िकये गये िविनयमो ं के उपबंधो ं के संबंध में पाये गये
उ�ंघनो ंपर िवचार करने के िलए, पूणर्कािलक सद�ो ंके पैनल बनाये गये।
iii. प्रािधकरण द्वारा श��यो ं के प्र�ायोजन के तौर पर, िविश� शेयर अंतरण आवेदनो ं और
अ� िवषयो ंपर िवचार करने के िलए पूणर्कािलक सद�ो ंका पैनल बनाया गया।
यह चालू िव�ीय वषर् 2025-26 में प्रािधकरण की तीसरी बैठक थी।
The 132nd Meeting of the Authority was held on the 14th July 2025 at IRDAI, Hyderabad
in accordance with the provisions of the IRDA (Meetings) Regulations 2000. Apart
from the routine regulatory and administrative matters deliberated/approved in the
meeting, the following major aspects received Authority’s approval:
1. Rural, Social Sector and Motor Third Party obligations for FY 2025-26 and FY
2026-27
Rural, Social Sector and Motor Third Party obligations under IRDAI (Rural, Social
Sector and Motor Third Party Obligations) Regulations, 2024 for FY 2025-26 and FY
2026-27 were approved.
2. Release of Technical Guidance Document for Second Quantitative Impact
Study (QIS 2) for implementation of Ind-RBC
A status update on implementation of Risk Based Capital (Ind-RBC) which is one of
the key areas to pursue development agenda with the objective of overall growth
coupled with optimum utilization of capital, basis the risk profile of the insurers, was
2discussed. The results from the impact assessment from the First Quantitative Impact
Study (QIS 1) were also deliberated.
The Technical Guidance document for carrying out the QIS 2 has been updated
considering inputs received from insurers and working groups. The template for data
submission is also being reviewed through dry run. An updated Technical Guidance
Document along with internally designed template will be released soon. Insurers will
be required to complete the exercise in two to three months.
3. Approval of R1 application, the first stage approval in the registration
process of an Insurance Company.
R1 application of M/s Kiwi General Insurance Ltd. was approved
4. Other important agendas included
i. For ease of doing business certain clarifications/modifications in the existing
regulatory stipulations were approved as regards:
• IRDAI (Maintenance of Information by the Regulated Entities and Sharing
of information by the Authority), Regulations 2025
• Revised Guidelines on Insurance Repositories and Electronic Issuance of
Insurance Policies (Reference IRDAI/INT/GDL/INSRE/111/05/2015 dated
29th May 2015)
ii. As part of enforcement function, to decide on the violations observed as regards
the provisions of Insurance Act and Regulations issued thereunder, with respect
to certain Insurers/Insurance Intermediaries, panels of Whole-Time Members
were formed
iii. In terms of delegation of powers by the Authority, panel of Whole-Time
Members were formed to consider specific share transfer applications and other
matters
This was the third meeting of the Authority in the current financial year FY 2025-26
3