The Insurance Regulatory Development Authority of India ("IRDAI") has, by way of a circular dated 18 May, 2016 issued revised Guidelines for Corporate Governance for insurers1 in India ("CG Guidelines").
Read MoreThe Insurance Regulatory and Development Authority of India ("IRDAI") has issued Guidelines ("Guidelines") on 19 October 2015 to further clarify "Indian Owned and Controlled" requirement for Indian insurance companies. As previously reported in our newsletters, the cap on foreign investment in Indian insurance companies ("Insurers") has been increased to 49% (from the earlier 26%) subject to them being "Indian owned and controlled, in such manner as may be prescribed"
Read MoreThe concept of Real Estate Investment Trusts (REITs) has been seen across the world since a lot of years. However, it is a new concept in India. The Securities and Exchange Board of India (SEBI) recently framed the SEBI (REITs) Regulations, 2014 (REIT Regulations) for the regulation of REITs in India.
Read MoreThe (Indian) Insurance Act, 1938 (as amended by the Insurance Laws (Amendment) Act, 2015) ("Amendment Act") allows the capital of an Indian insurance company to consist of equity shares and such other forms of capital as may be prescribed by regulations.
Read MorePursuant to the promulgation of the Insurance Laws (Amendment) Ordinance, 2014 ("Ordinance"), the Ministry of Finance, Government of India has, by way of a notification dated 19 February, 2015 notified the Indian Insurance Companies (Foreign Investment) Rules, 2015 ("Foreign Investment Rules") to implement the decision of increase in the foreign investment limit in the insurance sector to 49%.
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