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The brokers' association's walk-through of the broker regulations: capital of ₹75 lakh for a direct broker (₹4 crore reinsurance, ₹5 crore composite), net worth that must not fall below ₹50 lakh, and a ₹10 lakh deposit.
IRDAI (Insurance Brokers) Regulations, 2018: an overview
From ibai.org by Insurance Brokers Association of India
- A direct broking licence is the realistic entry point for an insurance startup.
- Net worth is tested every half year, so keep capital above the floor.
