Indian regulators and government

    Insurance Regulatory and Development Authority of India (IRDAI)

    India's insurance regulator, which also sets stewardship rules for insurers as investors.

    Official site

    Background

    IRDAI is the statutory regulator for insurance companies and intermediaries in India.

    Scope and powers

    IRDAI sets rules for insurers' solvency, products and investments. It introduced a stewardship code for insurance companies in 2017, asking them to act as responsible owners of the companies they invest in.

    Investor relevance

    Insurers are large long-term investors in Indian equities and bonds, and big buyers of long-dated sovereign green bonds. Their stewardship and investment rules affect demand for ESG-labelled securities.

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    Key glossary terms

    Last reviewed: October 2026