Insurance Regulatory and Development Authority
The Insurance Regulatory and Development Authority of India (IRDAI) is a statutory body under the jurisdiction of Ministry of Finance , Government of India and is tasked with regulating and licensing the insurance and re-insurance industries in India. It was constituted by the Insurance Regulatory and Development Authority Act, 1999, an Act of Parliament passed by the Government of India. The agency's headquarters are in Hyderabad, Telangana, where it moved from Delhi in 2001.
| Abbreviation | IRDAI |
|---|---|
| Formation | 1999 |
| Type | Regulatory Body |
| Legal status | Active |
| Headquarters | Sy No. 115/1, Financial District, Nanakramguda, Hyderabad – 500032 |
| Location | |
| Coordinates | 17.385°N 78.486°E |
| Services | Insurance of India |
| Owner | Ministry of Finance, Government of India |
Key people | Debasish Panda, IAS (Chairperson) |
| Website | irdai.gov.in |
IRDAI is a 10-member body including the chairman, five full-time and four part-time members appointed by the government of India.
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