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Recent Current Affairs related to IRDAI

6 News
7 July 2026 BANKING

The Insurance Regulatory and Development Authority of India (IRDAI) has granted the final (R3) Certificate of Registration (CoR) to Prudential HCL Health Insurance Ltd. It is a joint venture (JV) between the Prudential Group of the UK (70% stake) and the HCL Group of India (30% stake). With this, the company becomes the 8th standalone health insurer in India.

It is to be noted that regulatory guidelines mandate a minimum paid-up equity capital of ₹100 crore for an Indian insurance company or a Limited Liability Partnership (LLP) registered under the LLP Act, 2008.

26 June 2026 BANKING

The Insurance Regulatory and Development Authority of India (IRDAI) has constituted a 7-member Working Group on AI (WG-AI) to guide insurance companies regarding the adoption, governance, and oversight of AI technologies.

The WG-AI is chaired by Prof. Sandeep K Shukla, Director of the International Institute of Information Technology (IIIT) Hyderabad. Deepak Gaikwad, General Manager (GM) and Chief Information Security Officer (CISO) at IRDAI, has been appointed as the member-convener of the group.

1 June 2026 BANKING

Jumpp, operated by the Finvasia Group, has received Corporate Agency and Insurance Self Network Platform (ISNP) licences from the Insurance Regulatory and Development Authority of India (IRDAI).

These licences enable Jumpp to distribute insurance products digitally through its AI-powered platform. The platform has also partnered with YES Bank to provide banking and Bharat Bill Payment System (BBPS) services.

15 April 2026 BANKING

The Insurance Regulatory and Development Authority of India (IRDAI) has formed a sub-committee of the Insurance Advisory Committee (IAC) to examine the current state of private health insurance in India.

The initiative aims to improve consumer experience and increase the reach of health insurance by building trust among policyholders.

The sub-committee is tasked with reviewing critical parameters, providing advice, and overseeing digital transformation.

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