Wednesday, 3 September, 2025
IRDAI Bars VC-Backed Fintechs from Getting Insurance Manufacturing Licenses
The Insurance Regulatory and Development Authority of India (IRDAI) has taken a firm stance against granting insurance manufacturing licenses to VC-backed fintech startups, reserving them for promoter-led entities instead. By tightening approval norms, the regulator is steering fintech firms—such as Onsurity and Loop Health—that raised funding based on underwriting ambitions toward distribution-only models.
Read full story at Economic Times