The Insurance Regulatory and Development Authority of India (IRDAI) Authority approved registration of two insurance entities, Allianz Jio Reinsurance and one general insurer, Kiwi General Insurance.
The approval was given in the 134th Meeting of the Authority held on 9th March 2026. During the meeting, the Authority considered various regulatory matters, The Authority also deliberated on the regulatory framework required pursuant to the enactment of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 (“SBSR Act”). The SBSR Act was notified on 21st December 2025 and came into force with effect from 5th February 2026. The legislation amends the Insurance.
“The granting of new licences to Allianz Jio Reinsurance and Kiwi General Insurance is a positive development for the industry and reflects the continued evolution of India’s insurance sector,’’ Tapan Singhel, Chairman General Insurance Council said on Wednesday,
“India is one of the most exciting insurance markets in the world, and we need greater scale, innovation and wider participation to fully unlock its potential. In a country of India’s size and diversity, we would eventually need more than a thousand insurers to address the protection needs of every citizen. Each such step strengthens the overall ecosystem and brings us closer to expanding insurance access across the country,’’ he said.
Published on March 11, 2026
