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Industry Specific - Insurance Central Insurance Regulatory Development Authority Insurance Act, 1938

IRDAI has issued a circular with respect to the Technical Guidance in respect of Indian Risk-Based Capital Framework

14-Aug-2025 | IRDAI/RBC/CIR/MISC/94/8/2025

IRDAI has issued a circular with respect to the Technical Guidance in respect of Indian Risk-Based Capital Framework - Quantitative Impact Study-2 which shall be applicable to all Life Insurers, General Insurers, Standalone Health Insurers, Reinsurers, Branches of Foreign Reinsurers, and Lloyds India. By virtue of this circular, an initial Technical Guidance document has been prepared to detail the Indian Risk-Based Capital (Ind-RBC) framework for carrying out the first Quantitative Impact Study (QIS 2). The QIS2 shall help in assessing the likely impact on the Indian Insurance Industry of the proposed framework for the quantification of capital and solvency requirements following a Risk-based approach. The results of QIS 2 shall be submitted by insurers on or before 15th October 2025. Further, it should be noted that this is a separate exercise and insurers shall continue to submit regulatory returns as mandated by the current regulatory regime as and when due.

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