The International Financial Services Centres Authority (IFSCA) on November 19, 2025, issued Consultation Paper on Proposed IFSCA (Registration of Insurance Business) (Amendment) Regulations, 2025.
The objective of this consultation paper is to seek comments/views/suggestions from public on the proposed amendments to the definition of Service Companies of Lloyd’s IFSC as provided in International Financial Services Centres Authority (Registration of Insurance Business) Regulations, 2021.
The International Financial Services Centres Authority (IFSCA) has received a representation from Lloyd’s, London seeking expansion of the definition of “Service Companies of Lloyd’s IFSC” under the IIO Regulations. At present, only Managing Agents of Lloyd’s or an Indian company can establish a Lloyd’s Service Company. IFSCA is therefore proposing to amend the regulations to also permit Members of Lloyd’s Syndicates, whether a body corporate or an Indian person, to establish such Service Companies.
The draft amendment has been placed on the IFSCA website for public comments, which may be sent in MS Word or MS Excel format by email to the Insurance Department and the specified officers by November 29, 2025.
[Notification No. IFSCA/2025-26/GN/REGxxx]
