Approved Investments IRDA

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Approved Investments Regulation by IRDA

THE INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY (INVESTMENT) (AMENDMENT) REGULATIONS, 2001


In exercise of the powers conferred by sections 27A, 27B, 27D and 114A of the Insurance Act, 1938 (4 of 1938), the Authority, in consultation with the Insurance Advisory Committee, hereby makes the following regulations to amend the Insurance Regulatory and Development Authority (Investment) Regulations, 2000, namely;

1 (1) These regulations may be called the Insurance Regulatory and Development Authority (Investment) (Amendment) Regulations, 2001.

(2) They shall come into force on the date of their publication in the Official Gazette.

2 In the Insurance Regulatory and Development Authority (Investment) Regulations, 2000, -

After Clause (b) of Regulation 2, the following clause shall be added:-

“ (ba) ‘Assets’ means all the assets of insurer, at their carrying value, shown in his Balance Sheet drawn in Form B-BL of the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditors’ Report of Insurance Companies) Regulations, 2000, but excluding items under the head ‘Miscellaneous Expenditure’”.

3. For the existing regulation 3, the following shall be substituted:-

“3.Regulaton of Investments

(1) Life Business: In terms of explanation in Section 27 A of the Act, the Authority has determined that assets relating to Pension business, Annuity business and Linked Life Insurance business shall not form part of the Controlled Fund for the purpose of that section.

Without prejudice to Section 27 or Section 27A of the Act, - Every insurer carrying on the business of life-insurance shall invest and at all times keep invested his controlled fund (other than funds relating to pension and general annuity business and unit linked life insurance business)in the following manner:
Type of Investment Percentage
Government Securities 25%

Government Securities or other approved Not less then 50%
Securities (including (i) above)

Approved Investments as specified in Schedule I

Infrastructure and Social Sector Not less than 15%
Explanation: For the purpose of this requirement, Infrastructure and Social Sector shall have the meaning as given in regulation 2(h) of Insurance Regulatory and Development Authority (Registration of Indian Insurance Companies) Regulations, 2000 and as defined in the Insurance Regulatory and Development Authority (Obligations of Insurers to Rural and Social Sector) Regulations, 2000 respectively.

Others to be governed by Exposure Not exceeding 35%
norms as specified in regulation 5. Investment in “other than approved Investments” can in no case exceed 15%of thefund

Approved Investments Regulation by IRDA
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