IRDAI Proposes Adoption of Indian Accounting Standards (Ind AS) for Insurers
The mandate covers all categories of insurers, including Life, General, Health, and Reinsurance companies operating in India.
The transition aims to align Indian insurance reporting with global benchmarks, improve performance disclosures, and introduce market-consistent liability valuation.
Currently, insurers follow the framework established under the Insurance Act of 1938 and existing IRDAI regulatory guidelines.
Aspirants should note: This shift will enhance transparency and allow for better international comparability of financial statements in the insurance sector.
Key Facts / Static GK
IRDAI Headquarters: Hyderabad, Telangana
Insurance Act: 1938
Practice Quiz — 7 March 2026
Q1. Which index will serve as the base for the new derivatives approved by SEBI for the Bombay Stock Exchange in March 2026?
Q2. Who has been appointed as the Brand Ambassador for SBI General Insurance's 'Chuniye Bharosa, Apno Sa' campaign?
Q3. Regarding the 'YES Essence Women’s Salary Account', which of the following statements is/are correct? I. It offers a ₹5 lakh top-up health cover. II. It provides 5% cashback on the Elegance Debit Card up to ₹10,000 annually. III. The minimum age for eligibility is 18 years.
Q4. From which date has IRDAI proposed the mandatory adoption of Indian Accounting Standards (Ind AS) for all insurers?
Q5. What regulatory change by SEBI in December 2025 facilitated EPFO's investment in the Raajmarg Infra InvIT (RIIT) IPO?
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