Newsletter June 2023

IRDAI has issued license to new companies Acko Life Insurance Ltd, and Credit Access Life Insurance Ltd. With these two additions, the total number of the insurers operating in India have gone up to 25, which had remained stagnant since 2011, when the certificate of registration was last granted to a life insurer. Around 18 applications are pending with IRDAI for grant of license for operating in the insurance sector in India.