IRDAI clears two new insurance players for begin operations

New Delhi, March 10: The Insurance Regulatory and Development Authority of India (IRDAI) has accorded approval for the grant of Certificate of Registration to two new entities at its 134th meeting, an IRDAI statement said.
One of them is reinsurer M/S Allianz Jio Reinsurance Limited and the other one is general insurer M/S Kiwi General Insurance Limited.
It will enable them to undertake business in accordance with the application regulatory framework.
IRDAI also deliberated on the regulatory framework required pursuant to the enactment of Sabka Bima Sabki Raksha Act, 2025 (SBSR).
The SBSR Act was notified on December 21, 2025 and came into force with effect from February 5 this year.
The legislation amends the Insurance Act 1938 and the IRDA Act 1999, thereby necessitating the framing of new regulations and amendments to existing regulations to align the regulatory framework with the provisions of new law, the statement added.
The Authority also granted in-principle approval for drafting and publishing the draft regulations for stakeholder consultation with regard to the regulations which are required to be framed pursuant to SBSR Act.