Regulation 5 - Eligibility Conditions for Registration
International Financial Services Centres Authority (Registration of Insurance Business) Regulations, 2021 Chapter II SETTING UP OF A IFSC INSURANCE OFFICE
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IFSC insurance office registration requires licensing, regulatory clearance, financial safeguards, governance commitments, and anti-money-laundering jurisdictional compliance. Eligibility for registration of an IFSC Insurance Office requires applicants to satisfy conditions based on their legal form and jurisdiction. Indian ... Summary
Eligibility for registration of an IFSC Insurance Office requires applicants to satisfy conditions based on their legal form and jurisdiction. Indian applicants need IRDAI registration and no-objection clearance, satisfactory compliance records, reporting structures, and board undertakings on liabilities, capital and solvency. Foreign applicants require home-jurisdiction licensing and regulatory clearance, compliance records, reporting arrangements, financial security standards, and relevant board undertakings. Registration also depends on fit-and-proper assessment, jurisdictional anti-money-laundering and counter-terrorist-financing compliance, and fulfilment of any additional conditions or information requirements.
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