Kiwi's General Insurance application clears R1 stage

10 hours ago 1

Kiwi's General Insurance application clears R1 stage

ET BureauLast Updated: Jul 16, 2025, 05:49:00 AM IST

Synopsis

Kiwi General Insurance, supported by Westbridge Capital, has received initial approval from the insurance regulator, IRDAI, signaling the commencement of its licensing journey. IRDAI has also established panels to investigate share transfers and regulatory breaches. Furthermore, the regulator assessed the advancement of the Risk-Based Capital regime, taking into account insurer feedback.

Insurance---agenciesAgencies

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

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


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