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ONE DAY WORKSHOP ON FINANCIAL SECTOR ASSESSMENT PROGRAMME BY RANDIP SINGH JAGPAL, JOINT DIRECTOR, IRDA

ONE DAY WORKSHOP ON FINANCIAL SECTOR ASSESSMENT PROGRAMME BY RANDIP SINGH JAGPAL, JOINT DIRECTOR, IRDA. 29 th Dec, 2010. AGENDA. The supervised entity ICP 6 – Licensing ICP 7 – Suitability of persons ICP 8 – Changes in control and portfolio transfers ICP 9 – Corporate Governance

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ONE DAY WORKSHOP ON FINANCIAL SECTOR ASSESSMENT PROGRAMME BY RANDIP SINGH JAGPAL, JOINT DIRECTOR, IRDA

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  1. ONE DAY WORKSHOP ON FINANCIAL SECTOR ASSESSMENT PROGRAMME BY RANDIP SINGH JAGPAL, JOINT DIRECTOR, IRDA 29th Dec, 2010

  2. AGENDA • The supervised entity • ICP 6 – Licensing • ICP 7 – Suitability of persons • ICP 8 – Changes in control and portfolio transfers • ICP 9 – Corporate Governance • ICP 10 – Internal Control 2

  3. REGULATORY ARCHITECTURE Power to enact regulations delegated to IRDA by Parliament 49 Regulations issued by IRDA till 31st March, 2010 for orderly growth Regulations notified are in line with 28 IAIS Core Principles Principles into 7 categories Conditions for Effective Insurance Supervision The Supervisory System The Supervised Entity On-going Supervision Prudential Requirements Markets and Consumers Anti-Money Laundering, Combating of Terrorism 3 3

  4. ICP 6 (a) - Licensing 4 4

  5. ICP 6 (b) - Licensing 5 5

  6. ICP 6 (b) - Licensing 6 6

  7. ICP 6 (b) - Licensing 7 7

  8. ICP 6 (c), (d), (e) - Licensing 8 8

  9. ICP 6 (f), (g) - Licensing 9 9

  10. ICP 6 (h), (i) - Licensing 10 10

  11. ICP 6 (j), (k) - Licensing 11 11

  12. ICP 7 – Suitability of persons 12 12

  13. ICP 7 – Suitability of persons 13 13

  14. ICP 8 – Changes in control and portfolio transfers 14 14

  15. ICP 8 – Changes in control and portfolio transfer 15 15

  16. ICP 8 – Portfolio transfer 16 16

  17. ICP 9 – Corporate Governance 17 17

  18. ICP 9 – Corporate Governance 18 18

  19. ICP 10 – Internal Control 19 19

  20. ICP 10 – Internal Control 20 20

  21. ICP 10 – Internal Control 21 21

  22. THANK YOU

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