Date: August 26, 2026
Regulatory Action Disclosure
Authority and Order Details
- Regulatory Authority: Insurance Regulatory and Development Authority of India (IRDAI)
- Date of Order Receipt: August 25, 2026
- Nature of Order: IRDAI has issued directions requiring the company to follow norms specified by IRDAI regarding portability of policies and settlement of claims
- Compliance Timeline: Company must report compliance to IRDAI within 4 months of the order
Specific Requirements
- The company must review certain portability cases for FY 2024-25 and FY 2025-26
- Appropriate action must be taken where considered necessary in line with applicable policy terms
- The observation relates specifically to portability-related claims from FY 2024-25 and FY 2025-26
Financial and Operational Impact Assessment
- Financial Impact: Any resulting financial impact is expected to be limited and associated only with a defined category of portability claims pertaining to FY 2024-25 and FY 2025-26
- Operational Impact: No impact is expected on the operation or other activities of the Company
- Penalties: No penalty, restriction, or sanction imposed pursuant to the communication
Company Response
- The Company will adhere to the directions issued by IRDAI
- The disclosure confirms that the information provided is true, correct, and complete to the best of the company's knowledge and belief
KMP / Board Details
- Jayashree Sethuraman, Company Secretary & Compliance Officer, signed and submitted the disclosure
- The disclosure was digitally signed on August 26, 2026, at 11:34:55 IST from Tamil Nadu