Insurance Business Amendment Regulations 2026 Expand Scope Of Eligible IFSC Entities

The International Financial Services Centres Authority (IFSCA) has issued the IFSCA (Registration of Insurance Business) (Amendment) Regulations, 2026, updating the regulatory framework for insurance operations in International Financial Services Centres (IFSCs). The notification, released on January 5, 2026, amends the principal regulations governing registration and operation of insurance entities in IFSCs.

A key change involves the definition of “Service Companies of Lloyd’s IFSC” in the Second Schedule. The revised definition now includes service companies registered in India and promoted by managing agents of Lloyd’s, group entities of managing agents or members of Lloyd’s as permitted by Lloyd’s, and Indian companies meeting specified regulatory criteria. The amendments aim to broaden the scope of eligible entities and provide clarity on regulatory compliance. The move supports participation of Lloyd’s-related insurance entities in IFSCs while maintaining oversight of the international insurance ecosystem in India.