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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> Insurance Regulatory and Development Authority <br /><br /> Monitoring of Investments in Alternative Investment Fund (AIF)<br /><br /> MANU/IRDA/0048/2023 - (28 Jul 2023)<br /><br /> </td> </tr> <tr> <td align="left" valign="top"></td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>The Authority vide its circular IRDA/F&I/ClR/INV/172/08/2013 dtd.23rd August,2013 had permitted insurers for investments in Category I and II AIFs (within SEBI Regulations) as a part of "Other Investments".<br><br> With a view to closely monitor the exposure of insurers to AIFs, it is hereby advised that the insurers shall adhere the following requirements with respect to investments in AlFs:<br><br> 1. The NAVs of AIFs should be declared on quarterly basis.<br><br> 2. The rollover of investments in AlFs should be approved by the Board/Investment Committee. <br><br> 3. The insurers shall submit a quarterly return for investments in AIFs as per the format specified in Annexure-I within 15 days from the end of each quarter.<br><br> All insurers are required to ensure compliance.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : Monitoring, Investments, AIF</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>