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Home / Insurance — IRDAI / Insurance Broker Licence
Last updated: 2 October 2026
Setting up an insurance broking company needs IRDAI registration under the Insurance Brokers Regulations. Expertvuw’s team helps promoters with entity set-up, capital planning, principal officer requirements and the IRDAI application — including the move to perpetual registration from 2026.
Insurance brokers represent clients — not insurers — in arranging insurance cover and claims. They are regulated by the IRDAI (Insurance Brokers) Regulations, 2018, as amended, most recently by the IRDAI (Insurance Intermediaries) (Amendment) Regulations, 2026 notified on 30 July 2026.
There are three categories. A direct broker deals in life, general and/or health insurance for clients; a reinsurance broker arranges reinsurance for insurers; and a composite broker does both. Each category has its own minimum capital and a net worth that must be maintained at all times. The applicant must be a company or LLP with insurance broking as its main object, and must appoint a Principal Officer who meets IRDAI’s qualification, training and examination requirements.
Following the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 and the 2026 amendment, broker registration is now perpetual, subject to payment of an annual fee, instead of renewal every three years. Existing brokers must obtain new certificates within the timelines set by IRDAI.
Basis: Insurance Act, 1938 as amended by the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025; IRDAI (Insurance Brokers) Regulations, 2018, as amended by the IRDAI (Insurance Intermediaries) (Amendment) Regulations, 2026. Last updated: 27 September 2026.
Minimum capital ₹75 lakh; net worth ₹50 lakh at all times.
Minimum capital ₹4 crore; net worth ₹2 crore at all times.
Minimum capital ₹5 crore; net worth ₹2.5 crore at all times.
Registration no longer needs renewal every three years; an annual fee applies.
Must meet IRDAI's qualification, training and examination requirements.
Brokers must maintain professional indemnity insurance as prescribed.
Most delays relate to capital, people and business plans.
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Broker registration connects with these services.
Corporate agent registration with IRDAI.
Insurance web aggregator registration.
Ongoing compliance for intermediaries.
Online insurance sales platform approval.
Choose category and check eligibility.
Incorporate or amend objects; infuse capital.
Appoint and qualify the Principal Officer.
File the application with IRDAI.
Respond to IRDAI observations.
Receive the certificate and start operations.
Brokers have continuing obligations.
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Share your query and our team will reply during business hours.
Direct broker (life, general, health), reinsurance broker and composite broker.
₹75 lakh for a direct broker, ₹4 crore for a reinsurance broker and ₹5 crore for a composite broker.
No. After the 2025 Act and the July 2026 amendment, registration is perpetual subject to an annual fee.
A person meeting IRDAI’s qualification, training and examination requirements for brokers.
Yes. Brokers represent clients and can place business with multiple insurers.
ACS – Director, Expertvuw Management Pvt Ltd
IRDAI applications and filings are prepared by Expertvuw’s team. Audits and certificates required by IRDAI are issued by independent Chartered Accountants, and representation before IRDAI or other authorities is made by authorised professionals or advocates. Expertvuw is not an insurer or insurance intermediary and does not sell insurance.