The Insurance Regulatory and Development Authority of India has published an exposure draft amending its regulations on insurers’ actuarial, finance and investment functions, alongside a detailed consultation paper, to support adoption of Indian Accounting Standards (Ind AS). The package proposes that Ind AS financial reporting apply to all insurers with effect from 1 April 2026. The exposure draft sets out a proposed regulatory framework for the recognition, measurement, presentation and disclosure of financial statements by insurers adopting Ind AS. The proposed effective date would apply across life insurers, general insurers, health insurers and reinsurers, and is positioned as a means to improve consistency, transparency and comparability in insurance financial reporting while preserving regulatory prudence and safeguarding policyholder interests. Public comments are invited from insurers, industry associations, professional bodies, actuaries, auditors and other interested entities, and the exposure draft has been made available on the IRDAI website.
Insurance Regulatory and Development Authority of India 2026-03-03
Insurance Regulatory and Development Authority of India issues exposure draft to implement Ind AS reporting for all insurers from 1 April 2026
The Insurance Regulatory and Development Authority of India released a draft amending regulations on insurers' actuarial, finance, and investment functions to support Indian Accounting Standards (Ind AS) adoption from 1 April 2026. It outlines a framework for financial statement recognition, measurement, presentation, and disclosure for all insurers, aiming to enhance consistency, transparency, and comparability in insurance financial reporting while maintaining regulatory prudence and protecting policyholder interests.