Insurance business through an Indian intermediary attracts licensing and registration requirements despite other governmental permissions.

An Indian intermediary that collects insurance premium in India and delivers mediclaim certificates in India on behalf of a foreign insurer is carrying on insurance business in India. The statutory scheme treats an insurance agent as one who solicits or procures insurance business, and a foreign insurer as covered where it carries on business in India through a representative or place of business. Prior permissions from other governmental authorities do not displace compliance with the insurance regulatory regime. The regulatory direction requiring registration or a licence was therefore upheld, and the writ petition was dismissed.

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Issues: Whether the petitioner, acting as an intermediary for a foreign insurance company, was carrying on insurance business in India and was therefore required to obtain registration or licence under the insurance regulatory regime.

Analysis: The petitioner collected insurance premia in India and delivered the mediclaim certificates in India, so the commercial activity was not confined to a mere remittance function. On the statutory scheme, an insurance agent is one who solicits or procures insurance business, and a foreign insurer is covered where it carries on business in India through a representative or place of business. The Court treated the petitioner's role as that of an agent facilitating insurance business in India on behalf of the foreign company, and held that prior permissions from other governmental authorities did not dispense with the requirement of compliance under the insurance laws.

Conclusion: The petitioner was carrying on insurance business in India and could not avoid the requirement of registration or licence under the insurance framework; the challenge to the regulatory order failed.

Final Conclusion: The impugned regulatory direction was upheld and the writ petition was dismissed.

Ratio Decidendi: Where an Indian intermediary collects insurance premium and issues the insurance certificate in India on behalf of a foreign insurer, the intermediary is carrying on insurance business in India and remains subject to the statutory licensing and regulatory requirements.

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