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The Insurance Regulatory and Development Authority of India repeals the Guidelines on repatriation of dividends by insurance intermediaries having majority by foreign investors. This action aligns the regulatory framework with the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 and the Indian Insurance Companies (Foreign Investment) Amendment Rules, 2025. The repeal removes the requirement for insurance intermediaries to obtain prior approval from the Authority for dividend repatriation. It also removes conditions on related party payments. The repeal takes effect from 30 July 2026.
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[Image omitted. See the official document.]
Circular No.: IRDAI/INT/CIR/MISC/122/9/2026
22^nd^ Sep., 2026
To,
All Insurance Intermediaries
Subject: Repeal of the ‘Guidelines on repatriation of dividends by insurance intermediaries having majority by foreign investors’ (IRDAI/INT/GDL/MISC/004/01/2020 dated 03.01.2020)
The Insurance Regulatory and Development Authority of India (IRDAI) has notified the IRDAI (Insurance Intermediaries) (Amendment) Regulations, 2026 on 30.07.2026 to align the regulatory framework governing insurance intermediaries with the provisions of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 and the Indian Insurance Companies (Foreign Investment) Amendment Rules, 2025.
The Amendment Regulations, inter alia, have removed the requirement of obtaining prior approval of the Authority for the repatriation of dividends and the condition on related party payments.
Accordingly, the Guidelines on repatriation of dividends by insurance intermediaries having majority by foreign investors issued vide Ref. No. IRDAI/INT/GDL/MISC/004/01/2020 dated 03.01.2020 are hereby repealed with effect from 30.07.2026.
This circular is issued with the approval of the competent authority.
Yours faithfully,
(Anita Josyula)
Chief General Manager – (Intermediaries)
