GENERAL9 Sept 2026
11 insurers begin Ind AS transition from FY27; IRDAI tracks rest for FY28
India's insurance regulator says 11 insurers have started moving to Indian Accounting Standards (Ind AS) this financial year. A few, including SBI General and Star Health, have already filed first-quarter numbers under the new format. Others will follow from next year. This means clearer, more transparent financial reporting from insurers. If you hold a policy, just watch for smoother updates.
Key Statutory Highlights
- 11 insurance companies have begun transitioning to Ind AS from the current financial year, FY27.
- SBI General, Niva Bupa, and Star Health have submitted their first quarter FY27 financial numbers under Ind AS.
- IRDAI is monitoring insurers granted forbearance and scheduled to adopt Ind AS from FY28.
Actionable Advice for Taxpayers / Founders:No immediate step is needed from policyholders, but watch your insurer's annual statements for clearer financial reporting as the transition progresses.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
Share: