Insurance Regulatory and Development Authority of India has granted certificates of registration to Kiwi General Insurance and Allianz Jio Reinsurance, allowing both entities to commence operations under the country’s regulatory framework.
The approvals were announced following the regulator’s 134th Authority meeting. With the certification, both companies are now authorised to undertake insurance and reinsurance business in accordance with applicable regulations.
Allianz Jio Reinsurance has been established as an equal joint venture between Jio Financial Services and Allianz Group. The company was incorporated in September and is expected to strengthen India’s reinsurance landscape by expanding domestic capacity for risk coverage.
Meanwhile, the regulator also cleared the registration of Kiwi General Insurance, whose R1 application – the first stage in the insurance company licensing process – had earlier received approval.
The company has been founded by Neelesh Garg, former Managing Director and Chief Executive Officer, Tata AIG General Insurance.
During the meeting, the Authority also discussed the regulatory framework required following the implementation of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, which came into force on 5 February.
The amendments to the Insurance Act 1938 and the IRDA Act 1999 require the development of new regulations as well as revisions to existing rules to align the regulatory framework with the provisions of the updated legislation.
To accelerate the regulatory transition and incorporate reforms introduced under the new law, the Authority granted in-principle approval to draft and publish new regulations for stakeholder consultation.
The move is expected to facilitate a smoother regulatory alignment process while strengthening India’s insurance sector reforms and improving access to insurance coverage across the country.
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