Date of enforcement of Reg 28 9 of IRDAI Registration and Operations

Reference No.:IRDAI/NL/CIR/RIN/021/01/2017 Date:16/01/2017 Title:CIRCULAR Date of enforcement of Reg 28(9) of IRDAI (Registration and Operations of Branch offices of Foreign Reinsurers other than Lloyds) Regulations, 2015 amended vide notification dated 28.01.2016 This has reference to Circular Ref: IRDA/NL/CIR/RIN/036/02/2016 dated 29th February, 2016 (uploaded in IRDAI Website on 01.03.2016) on the subject. Vide the circular, the Authority had deferred the date of enforcement of Regulation 28(9) of IRDAI (Registration and Operations of Branch Offices of Foreign Reinsurers other than Lloyd’s Regulations), 2015 (amended vide notification dated 28.01.2016).   The Authority has recently granted R 3 (Certificate of Registration) to 5 foreign reinsurers’ branches as well as one Indian Reinsurer.  It has now been decided that Regulation 28(9) of IRDAI (Registration and Operations of Branch Offices of Foreign Reinsurers other than Lloyd’s Regulations), 2015 (amended vide notification dated 28.01.2016) shall take effect immediately. P J Joseph Member (Non-Life)