The IFSCA issued a consultation paper on proposed "IFSCA (Registration of Insurance Business) (Amendment) Regulations, 2025" on November 19, 2025, seeking public comments.
The following comments/suggestions were received:
* A suggestion to add "or" after sub-clause (a) in Schedule II, sub-clause (i) of 'Service Companies' Clause 1, for the sake of good order and to avoid confusion.
Modifications, if any, were suitably carried out based on the comments received from the stakeholders and placed before the Authority in the meeting held on December 22, 2025. The comments received from the stakeholders were also placed before the Authority.
Key Entities Referenced
IFSCA (Registration of Insurance Business) (Amendment) Regulations, 2025: Proposed regulations regarding the registration of insurance business by the International Financial Services Centres Authority.
Lloyd's IFSC: Reference to Service Companies of Lloyd's operating within an IFSC.
IFSCA: International Financial Services Centres Authority, the issuer of the consultation paper.
Analysis of Comments received on the proposed
IFSCA (Registration of Insurance Business) (Amendment) Regulations, 2025
The consultation paper on captioned regulations seeking comments/suggestions from the public was issued by
IFSCA on November 19, 2025. The following comments / suggestions were received:
Sr. Sub-Regu No. Comments / Suggestions / Suggested
Reg. No. Rationale
No. /Para No. modifications
1 -- -- Nil Nil
2 -- Schedule “‘Service Companies of Lloyd’s IFSC’ or Suggestion to add 'or' after sub-clause
II, sub clause (i) of ‘Service Companies’ means Service (a), for the sake of good order and to
Clause 1 Companies registered in the IFSC and avoid confusion
promoted by:
(a) Managing Agents of Lloyd’s; or
(b) Such group entities of Managing
Agents or Members of Lloyd’s as may be
permitted by Lloyd’s; or
(c) Indian Companies which meet the
specified criteria”
3 -- -- Nil Nil
During the public consultation, comments were received from various stakeholders. Modifications, if any, were
suitably carried out based on the comments received from the stakeholders and placed before the Authority in
the meeting held on December 22, 2025. The comments received from the stakeholders were also placed before
the Authority.