Photo of Saakshi Tibrewal

Associate in the General Corporate practice at the Mumbai office of Cyril Amarchand Mangaldas, Saakshi joined the firm in the year 2023 after graduating from Jindal Global Law School. She can be reached at

Indian Regulatory Perspective on Non-traditional Reinsurance Solutions


The Insurance Regulatory and Development Authority of India (“IRDAI”) has notified the introduction of first phase of pilots for implementing ‘Risk Based Supervision’ (“RBS”) framework for the insurance sector in India[1], commencing from July 2023. The IRDAI has collaborated with M/s Toronto Centre[2] for the aforesaid project. According to the IRDAI press release, RBS is a shift towards adopting global best practices for supervision which focuses on proportionality, materiality and relies on holistic analysis of the activities of regulated entity from risk perspective. The IRDAI’s intention to shift to the RBS framework for the insurance sector was first divulged vide a notification in October 2018[3], which listed the following benefits for insurance supervision[4]:Continue Reading Risk Based Supervision: Pilot Basis for New Regime to Take Off?