Archive · 23 Jul 2025
IRDAI Mandates Data Storage Within India for Foreign Reinsurers
Imagine insurance companies from other countries that work in India.
The government wants to make sure they keep all their important papers and information safe inside India.
This means any records they have, even those on computers, need to stay here.
The rules are set by the IRDAI, the group that watches over insurance.
This helps keep things organized and secure for everyone involved.
IRDAI mandates that Foreign Reinsurers' Branches and Lloyd's India maintain records within India.
The directive applies to all records, including those in electronic format.
The regulation is in accordance with IRDAI (Maintenance of Information by the Regulated Entities and Sharing of Information by the Authority), Regulations 2025.
The Insurance Regulatory and Development Authority of India (IRDAI) issued the directive.
The circular clarifies existing regulations for FRBs and Lloyd's India.
- Who
- IRDAI, Foreign Reinsurers' Branches, and Lloyd's India.
- What
- IRDAI instructed Foreign Reinsurers and Lloyd's India to maintain all records within India.
- When
- The directive was published on July 23, 2025.
- Where
- Within India.
- Why
- To comply with IRDAI regulations regarding information maintenance.
- Regulatory Body
- IRDAI
- Affected Parties
- Foreign Reinsurers' Branches, Lloyd's India
- Record Location
- India
- Applicable Regulation
- IRDAI (Maintenance of Information by the Regulated Entities and Sharing of Information by the Authority), Regulations 2025
- Record Type
- All records, including electronic