Eligibility criteria

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....f setting up branch in an IFSC shall meet with the following requirements: (a) It holds a valid certificate of registration or license issued by its home country regulatory or supervisory authority to undertake activities akin to an MGA; (b) It has acted as an agent to undertake activities akin to MGA including solicitation, underwriting risks and/or settling the claims for direc....

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....r to manage part of their direct insurance business including solicitation, underwriting risks and/or settling the claims shall ensure that such foreign insurer - (a) is registered or licensed for transacting direct insurance business, in its home country or country of its incorporation or domicile; (b) has satisfactory track record in respect of regulatory or supervisory complia....

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....ements as may be specified by the Competent Authority; and (h) submits undertaking(s) to comply with the provisions of regulation 22 of these regulations. (5) The Applicant entity, the foreign insurer(s) and their promoters, partners or controlling shareholders shall be from a jurisdiction which has not been identified in the public statement of Financial Action Task Force (FATF) as "H....