India’s insurance regulator has granted operational approval to two new insurance entities, allowing them to begin business in the country. The Insurance Regulatory and Development Authority of India (IRDAI) issued certificates of registration to Allianz Jio Reinsurance Limited and Kiwi General Insurance Limited during its 134th Authority meeting held on March 9, 2026.
With this approval, Allianz Jio Reinsurance Limited will operate as a reinsurer, while Kiwi General Insurance Limited will function as a general insurance company under India’s regulatory framework.
In a press release, the regulator confirmed the decision. “Approval was accorded for the grant of Certificate of Registration to two insurance entities. The Authority accorded approval to one reinsurer, M/s Allianz Jio Reinsurance Limited, and one general insurer, M/s Kiwi General Insurance Limited, enabling them to undertake business in accordance with the applicable regulatory framework,” IRDAI said.
The approvals allow both companies to formally begin offering insurance services in India in compliance with existing regulatory norms.
Alongside granting licences, the Authority also reviewed regulatory changes required following the implementation of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025.
The legislation was notified on December 21, 2025 and came into effect on February 5, 2026. The law introduces amendments to the Insurance Act, 1938 and the IRDA Act, 1999.
These changes require IRDAI to introduce new regulations and update existing rules to align the regulatory framework with the revised legal provisions.
To accelerate this process, the Authority granted in-principle approval to begin drafting and publishing draft regulations for stakeholder consultation.
The step is aimed at enabling faster regulatory alignment and implementing the reforms introduced under the new insurance legislation.
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