Actuarial

Actuarial


Functions and Responsibilities of Actuarial Deparment

The following are main functions and responsibilies of Actuarial Department:

  1. Formulation and amendment of regulations/legislations pertaining to Actuarial matters.
  2. To coordinate with Institute of Actuaries of India in bringing out Guidance Notes to be issued in concurrence with the Authority to enable suitable and necessary practices to evolve.
  3. Examining with reference to various actuarial related aspects such as Capital Adequacy & Validity of Assumptions for facilitating Registration of all Insurance Companies.

What’s New

08-02-2021

FAQs

Please refer Circular No. IRDAI/ACT/ CIR/GEN/070/03/2017 dated 31.03.2017.The circular can be accessed at https://www.irdai.gov.in/.

The information of solvency ratios of each life insurer can be accessed at www.irda.gov.in>> Public Disclosures >> life insurers >> Public Disclosures in Life Insurers’ website under form no. FORM L-32-SOLVENCY MARGIN - KT 3.

Please refer Chapter IX-Charges & Reduction in Yield for all Unit Linked insurance products of Insurance Regulatory and Development Authority (Unit Linked Insurance Products) Regulations, 2019.The regulations can be accessed at https://www.irdai.gov.in/.

Please refer regulation 3.m of 11 of Insurance Regulatory and Development Authority (Unit Linked Insurance Products) Regulations, 2019.The regulations can be accessed at https://www.irdai.gov.in/.

The life insurance products are cleared by IRDA of India through extant F&U application procedure. Life Product filing & approval process is laid down under circular Ref: IRDAI/ACT/CIR/MISC/124/07/2019 and circular Ref: IRDAI/ACT/CIR/MISC/125/07/2019 dated 26.07.2019 The circulars can be accessed at https://www.irdai.gov.in/.

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