IRDAI Approves India AS Framework For Insurers From April 1
In March 2026, the Insurance Regulatory and Development Authority of India (IRDAI) approved the IRDAI (Actuarial, Finance and Investment Functions of Insurers) (Amendment) Regulations, 2026 at its 135th Authority Meeting.
Key Highlights
Implementation: The amendments mandate the preparation and presentation of financial statements by insurers in accordance with applicable Indian Accounting Standards (Ind AS), with effect from 1st April 2026.
Applicable to: The implementation will be applicable to all categories of insurers including Life, General Stand Along Health Insurers and Reinsurers.
Parallel Reporting: The regulations provide for parallel reporting for a period of 2 years, that is financial statements prepared in accordance with Ind AS and under existing accounting framework.
Expert Group
Joint Export: The IRDAI constituted a joint expert group on IndAS, chaired by the Whole Time Member (WTM) (Finance and Investment), IRDAI currently Mr. Rajay Kumar Sinha.  

• The group shall remain in force for a period of 2 years from the date of constitution.