The Indian regulatory authority (IRDAI) has authorized foreign reinsurance branches (FRBs) and Lloyd's India to repatriate excess capital.
This decision, which took effect on 26 October 2022 is subject to certain conditions, including the prior approval of IRDAI and the compliance with a minimum shareholder's equity requirement.
Read also | Non-life insurance procedures eased in India [4]
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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-194-october-2022
[4] https://www.atlas-mag.net/en/category/pays/inde/non-life-insurance-procedures-eased-in-india