Kiwi General Insurance, Allianz Jio Reinsurance get IRDAI nod
The Hindu
IRDAI approves registration for Allianz Jio Reinsurance and Kiwi General Insurance, aligning with new insurance regulations.
Insurance Regulatory and Development Authority of India (IRDAI) has approved grant of certificate of registration to Allianz Jio Reinsurance and Kiwi General Insurance.
The Authority accorded approval to the two insurance entities enabling them to undertake business in accordance with the applicable regulatory framework, IRDAI said in a release on its 134th meeting held on March 9, 2026.
The reinsurance company is an equal joint venture of Jio Financial Services and Allianz Group and incorporated in September.
The R1 application, which is the first stage approval in the registration process of an insurance company, of Kiwi General Insurance, was approved by the insurance regulator in July 2025. Former MD and CEO of Tata AIG General Insurance Neelesh Garg is the founder of Kiwi General Insurance.
On other discussions at the meeting, IRDAI said it deliberated on the regulatory framework required following the enactment of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, which came into force on February 5. The amendments to the Insurance Act 1938 and the IRDA Act 1999 necessitate the framing of new regulations and amendments to existing regulations to align the regulatory framework with the provisions of the new law.
In order to expedite the regulatory alignment process and incorporating reforms of SBSR Act, the Authority granted in-principle approval for drafting and publishing the draft regulations for stakeholder consultation, it said.
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