IRDAI Guidelines on Repatriation of Dividends by Insurance Intermediaries having Majority Foreign Investor Shareholding

On October 30, 2019, the Insurance Regulatory and Development Authority of India (‘IRDAI’) issued the IRDAI (Insurance Intermediaries) (Amendment) Regulations, 2019, permitting 100% FDI in insurance intermediaries. One of the conditions specified in this regard was for an insurance intermediary to seek prior IRDAI approval for repatriating dividend, if such intermediary has majority foreign investor shareholding. On January 3, 2020, the IRDAI issued guidelines in relation to repatriation of dividends by insurance intermediaries having majority shareholding held by foreign investors.

Published In:Inter Alia - Quarterly Edition - March 2020 [ English Chinese japanese ]
Date: March 30, 2020