The IRDAI published a circular on Remuneration to Key Management Persons, dated May 25, 2026 (“Circular”). This was soon after a concept paper revisiting the remuneration of Key Managerial Personnel (“KMP”) of Indian insurers was shared among a select group of stakeholders, inviting their comments. The Circular, which is now applicable law, amends the IRDAI Master Circular on Corporate Governance for Insurers, 2024 (“Master Circular”). The Circular has been issued in exercise of powers under Section 34 of the Insurance Act, 1938, Section 14 of the IRDA Act, 1999, and Regulation 12 of the Regulations.