The insurance regulator has approved the R1 application of Westbridge Capital-backed Kiwi General Insurance, marking the first stage in the licensing process for a new general insurer.
The approval was granted during IRDAI’s third meeting of FY26 on Monday. IRDAI also constituted panels of Whole-Time Members to examine share transfer requests and regulatory violations by insurers and intermediaries under the Insurance Act.
These panels are empowered to take enforcement actions where necessary. Separately, IRDAI reviewed progress on implementing the Indian Risk-Based Capital regime and discussed findings from the first Quantitative Impact Study (QIS 1) with feedback from insurers and working groups. Our Bureau
