IRDAI proposes Ind AS adoption for insurance sector from April 2026

IRDAI has proposed mandatory adoption of Indian Accounting Standards (Ind AS) for all insurers by April 1, 2026. This move aligns India's insurance sector with global IFRS standards, introducing market-consistent liability valuation and expected credit loss methodology. Insurers have been preparing for this transition since 2022, with most major players already submitting proforma financial statements.