IRDAI, in its 137th Authority Meeting held on July 28, 2026 at its head office in Hyderabad, approved a series of regulatory, supervisory and developmental reforms to advance implementation of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, according to an IRDAI press release and TaxGuru report on July 29.
Key approvals: the IRDAI (Policyholders' Education and Protection Fund) Regulations, 2026, operationalising the PEPF under Section 16A of the IRDA Act to promote insurance awareness, strengthen grievance redressal, and facilitate tracing and recovery of unclaimed insurance amounts; the IRDAI (Manner and Procedure for Imposition of Penalties) Regulations, 2026, establishing a transparent and uniform enforcement framework with show-cause notices and reasoned orders; amendments requiring mandatory tagging of authorised salespersons to insurance proposals, policies and certificates; and liberalised investment, capital infusion and restructuring norms.
The Authority also granted a Certificate of Registration to M/s ProTec General Insurance Limited — the fourth registration in 2026 (two general insurers, one health insurer and one reinsurer) — and noted that two insurers have already increased foreign shareholding beyond 74% following the framework permitting up to 100% foreign investment.
Source: IRDAI Press Release, TaxGuru (July 29, 2026)