The International Financial Services Centres Authority (IFSCA), on November 19, 2025, issued a Draft International Financial Services Centres Authority (Registration of Insurance Business) (Amendment) Regulations, 2025, to further amend the International Financial Services Centres Authority (Registration of Insurance Business) Regulations, 2021.
The following has been stated:-
• The definition of ‘Service Companies of Lloyd’s IFSC’ or ‘Service Companies’ as specified at sub-clause (i) of clause 1 of the SECOND SCHEDULE of these regulations shall be substituted with the following: “‘Service Companies of Lloyd’s IFSC’ or ‘Service Companies’ means Service Companies registered in the IFSC and promoted by:
(a) Managing Agents of Lloyd’s;
(b) Such group entities of Managing Agents or Members of Lloyd’s as may be permitted by Lloyd’s; or
(c) Indian Companies which meet the specified criteria”
[Notification No. IFSCA/2025-26/GN/REGxxx]
