In a bid to strengthen policyholder protection and enhance trust in the insurance sector, as well as to clarify how insurers report their financials, India's insurance regulator, the Insurance Regulatory and Development Authority of India (IRDAI), has proposed a major change in the financial reporting framework followed by insurance companies. The insurance regulator has released an exposure draft proposing amendments to the Insurance Regulatory and Development Authority of India (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2026. IRDAI proposes adoption of Ind AS for insurers from April 1, 2026