Irdai's Fun New Rules: Insurers to Embrace Ind AS by 2026

The Insurance Regulatory and Development Authority of India (Irdai) has announced that insurers must switch to Indian Accounting Standards (Ind AS) by April 2026. This change aims to boost transparency and attract foreign investors. During the first year, insurers will need to submit both Ind AS and Igaap reports. Stakeholders have until March 24 to share their thoughts on this exciting transition.