IRCSL delegation in study tour to Indian Insurance Regulator and industry institutions

THE Insurance Regulatory Commission of Sri Lanka (IRCSL) successfully concluded a four-day study tour to India from 25 to 28 August 2025, aimed at strengthening regulatory capacity and learnings from India's progress in building a vibrant and inclusive insurance sector.

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The high-level delegation, comprising Chairman Dr. Ajith de Mel, Director General Damayanthi Fernando, Director, Market Development and External Relations Deepika Nawarathna, and Director, Legal and Enforcement Rajan Nirubasingham engaged in structured discussions with the Insurance Regulatory and Development Authority of India (IRDAI) and the Insurance Information Bureau of India (IIB) in Hyderabad, followed by a series of knowledge exchanges in Mumbai with the Insurance Institute of India (III), the General Insurance Council, the Life Insurance Council, and the Life Insurance Corporation of India (LIC), the country's largest life insurer.

Key learning areas

At IRDAI, the delegation gained insights into:

The evolution of the Indian insurance sector and its regulatory reforms under the Insurance Vision 2047 initiative, which seeks to ensure every Indian citizen has financial protection through insurance.