Guidelines & Directives

Business Plan Guidelines for Insurers

Section 42(2bi) of Insurance Act, 2021 requires every insurer to submit its business plan to the Commission for approval. These guidelines are to provide guidance on the contents of business plans of Life companies, Non-Life companies and Re-insurers.

The guidelines shall be relevant for the following situations

1. Companies desirous of applying to the NIC for a new licence to carry on insurance business.
2. Companies specifically directed by the NIC to submit a business plan.

Click to download the Business Plan Guidelines for insurers