IFSCA to send SPI sidecar proposals to Indian government: Chairman K. Rajaraman

The International Financial Services Centres Authority (IFSCA) will be sending proposals to the Government of India regarding the regulator’s proposed framework that would allow re/insurers to set up reinsurance sidecars in a special purpose insurance (SPI) framework, Chairman K. Rajaraman announced at the Global Conference of Actuaries 2026 earlier this week.

IFSCA’s SPI framework was first unveiled at the 2026 IFSCA-IRDAI Global Reinsurance Summit, which was held last month in Mumbai.

At the event, K. Rajaraman, chairman of the IFSCA, highlighted how the regulator was working on a framework that would enable re/insurers to set up reinsurance sidecars in a special purpose insurance (SPI) framework, and standardise parametric solutions in order to attract global institutional capital.

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