MANU/IRDA/0048/2023

Authority : Insurance Regulatory and Development Authority

Circular No. : IRDAI/F&I/CIR/INV/139/06/2023

Date : 28.06.2023

Monitoring of Investments in Alternative Investment Fund (AIF)

The Authority vide its circular IRDA/F&I/ClR/INV/172/08/2013 dtd.23rd August,2013 had permitted insurers for investments in Category I and II AIFs (within SEBI Regulations) as a part of "Other Investments".

With a view to closely monitor the exposure of insurers to AIFs, it is hereby advised that the insurers shall adhere the following requirements with respect to investments in AlFs:

1. The NAVs of AIFs should be declared on quarterly basis.

2. The rollover of investments in AlFs should be approved by the Board/Investment Committee.

3. The insurers shall submit a quarterly return for investments in AIFs as per the format specified in Annexure-I within 15 days from the end of each quarter.

All insurers are required to ensure compliance.

(Ammu Venkataramana)
General Manager (F&I)

Annexure-I

(To be submitted on quarterly basis in excel format only. The name of the excel sheet should be the name of the insurer.)

Name of the Insurer: .............................................

Name of AIF	Date of Investment	Amount (Rs. in Crore)	Number of Units	Status of the Fund (existing/ceased)	Any Rollover (Amount Rs. in Crore)	Date of Rollover	Authorisation for Rollover	NAV of investment as on ............ (Rs. in Crore)