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IRDAI weekly summary
IRDAI updates 21-27 September 2026: dividend repatriation repeal
IRDAI repealed prior approval for dividend repatriation by foreign-majority insurance intermediaries and delegated direction and penalty powers to members.
The week in brief
What changed
IRDAI repealed the guidelines that required insurance intermediaries with a foreign-investor majority to obtain prior approval before repatriating dividends, with effect from 30 July 2026. The circular says the repeal brings the framework in line with the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 and the Indian Insurance Companies (Foreign Investment) Amendment Rules, 2025.
IRDAI delegated powers to issue directions and impose penalties under the Insurance Act, 1938 to the Chairperson, a whole-time member, a panel of the Chairperson and one whole-time member, or a panel of two whole-time members. The Chairperson decides which delegation applies in each case.