IFSCA: insurance intermediary registrations to carry continued validity subject to annual fee
TaxByKK · Compliance News · taxbykk.com12 Nov 2026
In short
IFSCA has clarified that, until its Insurance Intermediary Regulations, 2021 are amended, certificates of registration of IFSC Insurance Intermediary Offices (IIIOs) will be issued and renewed with continued validity, subject to compliance and payment of the annual fee. The regulations gave a three-year validity. The change follows section 42D(4A) of the Insurance Act, 1938 as amended by the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025. The circular is effective immediately.
- Authority
- International Financial Services Centres Authority (IFSCA), Department of Insurance and Pension
- Circular
- F. No. IFSCA-Insu/CIRC/1/2021-Insurance
- Date
- 12 November 2026
- Type
- Circular to all IFSC Insurance Intermediary Offices
- Issued under
- Sections 12 and 13 of the IFSCA Act, 2019
- Effective
- Immediately
- Fee reference
- IFSCA-DTFA/1/2026 of 2 March 2026 (Fee Circular)
What changed
| Item | Before | Now |
|---|---|---|
| Validity of the certificate of registration | Three years under the 2021 regulations | Continued validity, subject to compliance with the regulations and directions and payment of the annual fee |
| Renewal when due | Renewal for a fixed term | IIIO files an application when due; IFSCA may renew with continued validity |
| Fees | Fees under the 2021 regulations | Annual fees as in the 2 March 2026 Fee Circular |
The circular is an interim clarification. It does not give the amount of the annual fee, which sits in the Fee Circular, and does not say when the regulations will be amended.
Who it applies to
- IFSC Insurance Intermediary Offices
- Insurance brokers and corporate agents operating from GIFT City
- CAs, CSs and lawyers advising IFSC entities
What to do
- Check the renewal date of each certificate and file the application when due.
- Budget the annual fee from the 2 March 2026 Fee Circular.
Reference
IFSCA Circular F. No. IFSCA-Insu/CIRC/1/2021-Insurance dated 12 November 2026.
Read the official PDF: IFSCA circular 12 Nov 2026Written by TaxByKK from the official notification. Check the official text before you act on it.
Frequently asked questions
How long is a certificate valid now?
Until the regulations are amended, it carries continued validity, subject to compliance and annual fee.
Where is the fee amount?
In IFSCA's Fee Circular of 2 March 2026, which this circular names but does not repeat.