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Monitoring of Investments in Alternative Investment Fund (AIF)- (Insurance Regulatory and Development Authority) (28 Jul 2023)



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".

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:

1. The NAVs of AIFs should be declared on quarterly basis.

2. The rollover of investments in AlFs should be approved by the Board/Investment Committee.

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.

All insurers are required to ensure compliance.


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