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Industry Specific - Insurance Central Ministry of Finance Insurance Act, 1938

Clarifications on Miscellaneous matters relating to IRDAI Investments- Master Circular dated 27th October, 2022

31-Jan-2023 | REF: IRDAI/F&I/INVI/CIR/027/01/2023

IRDAI had issued clarifications on some issues and an extension of the applicability of the miscellaneous matters relating to the IRDAI Investments-Master Circular dated 27th October 2022. Through this clarification, the following changes have been done- 1. Para 1.3 (c) (6) - Investment in any single Mutual Fund shall not exceed 20% of the total investment in Mutual Funds and the threshold limit shall include the investments in Exchange Traded Funds. This shall come into operation from 1st April 2023. 2. Para 1.5 (3)- Insurers are not permitted to invest in AIFs where rights attached to the units are varied and have a priority distribution model that may lead to a share of losses more than pro-rata to their holding as compared to other investors belonging to the same class.

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