IRDAI Designates LIC, GIC Re, and NIACL as D-SIIs for FY26
In April 2026, the Insurance Regulatory and Development Authority of India (IRDAI) designated Life Insurance Corporation of India (LIC), The New India Assurance Company Limited (NIACL) and General Insurance Corporation of India (GIC Re) as Domestic-Systemically Important Insurers (D-SIIs) for Financial Year 2025-26 (FY26).
In April 2026, the Insurance Regulatory and Development Authority of India (IRDAI) designated Life Insurance Corporation of India (LIC), The New India Assurance Company Limited (NIACL) and General Insurance Corporation of India (GIC Re) as Domestic-Systemically Important Insurers (D-SIIs) for Financial Year 2025-26 (FY26).
- IRDAI has clarified that the list of D-SIIs remains unchanged from the previous financial year.
About D-SIIs:
Definition: It refers to insurers of large size, market importance and domestic and global inter-connectedness whose distress or failure would cause a significant impact on the domestic financial system. Therefore, the continued functioning of these insurers is important for the uninterrupted availability of insurance services to the national economy.
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- D-SIIs are insurance companies identified by IRDAI, perceived as insurers that are ‘too big or too important to fail’ (TBTF).
Key Parameters: IRDAI outlined key parameters for the identification and supervision of D-SIIs which include: size of operations in terms of total revenue (including premium underwritten and the value of assets under management) and global activities across more than one jurisdiction.
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