The International Financial Services Centres Authority (IFSCA) on June 22, 2026, issued the Draft IFSCA (Registration and Operations of Mutual Insurer and Protection & Indemnity Club) Regulations, 2026.
The following has been stated:-
•The International Financial Services Centres Authority (IFSCA) has released draft regulations proposing a comprehensive framework for the registration and operation of Mutual Insurers and Protection & Indemnity (P&I) Clubs in IFSCs.
•The framework introduces eligibility criteria, capital and solvency requirements, governance standards, and operational guidelines for mutual insurers and marine liability insurers.
•It aims to align the IFSC insurance ecosystem with global best practices, attract international mutual insurance entities, and strengthen maritime insurance services.
•The draft also prescribes compliance, risk management, claims handling, and reporting obligations to safeguard policyholder interests.
•Stakeholders have been invited to submit comments and suggestions on the proposed regulations by July 12, 2026.
The detailed notification is given in the document below.
