Regulatory framework for managing general agents in IFSCs, aimed at transparency, accountability, and policyholder protection. The regulations establish a comprehensive regulatory framework for the registration, regulation and operation of Managing General Agents in International Financial Services Centres in India. They apply to MGAs acting with delegated authority from foreign insurers for underwriting direct insurance business or settling claims. The framework seeks to ensure transparency and accountability, protect policyholders' interests, and support the orderly growth and development of the insurance ecosystem in IFSCs.