India's IRDAI approves risk-based capital norms and new insurance accounting rules
Insurers must shift to risk-based capital and new accounting standards
Change
India’s IRDAI approved risk-based capital norms and Ind AS 117 accounting standards effective April 2026.
Why it matters
The framework replaces uniform solvency requirements with risk-based capital tied to underwriting, investment, and operational risks. It also changes revenue recognition and disclosure requirements.
Implications
- — Insurers must recalibrate capital allocation under risk-based requirements — failure risks solvency non-compliance
- — Finance teams must implement Ind AS 117 reporting changes — delays risk regulatory reporting breaches
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