The new Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, among other things, has removed the requirement of obtaining prior approval of the Authority for the repatriation of dividends and the condition on related party payments.
Hyderabad:The IRDAI said it has repealed the guidelines, issued on Jan 03, 2020, on repatriation of dividends by insurance intermediaries having majority by foreign investors. with effect from July 30,2026.
The regulator had notified the IRDAI (Insurance Intermediaries) (Amendment) Regulations, 2026 on July 30,026 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, among other things, have removed the requirement of obtaining prior approval of the Authority for the repatriation of dividends and the condition on related party payments.