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Stricter safeguards on cards for life funds
Business Standard
|December 16, 2025
The government has circulated among members of Parliament a new draft of the Amendment of Insurance laws Bill, 2025, proposing stricter safeguards on the utilisation of life insurance funds and other specified insurance business funds, particularly for dividend payouts, bonuses, and servicing of debentures.
According to the proposed Bill, life insurers or other notified classes of insurance will not be permitted to directly or indirectly use any portion of the insurance fund for declaring dividends to shareholders.
They also can’t pay bonuses to policyholders, or service debentures, except from a surplus disclosed through an actuarial valuation.
Such surplus must be reflected in the valuation balance sheet in a format prescribed by the Insurance Regulatory and Development Authority of India (Irdai) and submitted as part of statutory returns.
The legislation further bars insurers from artificially inflating surpluses by transferring amounts from reserve funds, unless such contributions have already been recognised as revenue for the relevant insurance class prior to valuation.
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