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 eligibility requires domestic or home-jurisdiction approval, compliance records, financial safeguards, and governance accountability. Registration of an Insurance Office in an IFSC requires eligibility based on the applicant's legal form and jurisdiction. Indian insurers and re-insurers ... Summary
IFSC insurance office registration eligibility requires domestic or home-jurisdiction approval, compliance records, financial safeguards, and governance accountability.
Registration of an Insurance Office in an IFSC requires eligibility based on the applicant's legal form and jurisdiction. Indian insurers and re-insurers require domestic registration, a no-objection certificate, regulatory compliance records, prescribed reporting structures, and board undertakings for IIO liabilities, capital and solvency requirements. Foreign applicants additionally require home-jurisdiction licensing and approval, satisfactory cross-jurisdictional compliance, treaty-partner regulatory status, prescribed credit quality, and applicable financial requirements. Registration also depends on fit-and-proper assessment, FATF-compliant jurisdictional status, and anti-money-laundering and counter-terrorist-financing compliance.
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