IFSCA Notifies Insurance Business Amendment Regulations, 2026

Notification no. F. No. IFSCA/GN/2026/003; Dated: 05.01.2026

1. Introduction

International Financial Services Centres Authority (IFSCA) has notified the IFSCA (Registration of Insurance Business) (Amendment) Regulations, 2026, introducing changes to the regulatory framework governing insurance business in IFSCs.

2. Regulatory Background

The amendment regulations have been issued vide Notification No. F. No. IFSCA/GN/2026/003 dated 05 January 2026 and amend the principal regulations relating to the registration and operation of insurance entities in International Financial Services Centres.

3. Revision in Definition of Service Companies

A key amendment relates to the substitution of the definition of “Service Companies of Lloyd’s IFSC” as provided in the Second Schedule to the regulations, bringing greater clarity to eligible entities.

4. Expanded Scope of Eligible Entities

Under the revised definition, Service Companies of Lloyd’s IFSC now include service companies registered in India and promoted by managing agents of Lloyd’s, group entities of managing agents or members of Lloyd’s as permitted by Lloyd’s, as well as Indian companies meeting the prescribed regulatory criteria.

5. Conclusion

The amendment regulations aim to broaden participation and enhance regulatory clarity for Lloyd’s-related insurance entities operating in IFSCs, supporting the growth of India’s international insurance ecosystem while maintaining robust oversight.

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