IRDAI Proposes Adoption of Indian Accounting Standards for Insurers from April 2026

India's Insurance Regulatory and Development Authority (IRDAI) has proposed adopting Indian Accounting Standards (Ind AS), including Ind AS 117, for all insurers starting April 1, 2026. This change aims to align financial reporting with global standards, enhancing transparency and comparability without affecting policy terms, premiums, or claims. The framework covers life, general, health insurers, and reinsurers, focusing on improved disclosure while safeguarding policyholder interests.