India: Executive Remuneration

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How IRDAI’s New KMP Remuneration Framework Is Reshaping Insurance Governance And Executive Accountability In India
The Insurance Regulatory and Development Authority of India (“IRDAI”), through its Circular dated 25 May 2026, has amended the Master Circular on Corporate Governance for Insurers, 2024 to revise the performance assessment and remuneration framework applicable to Key Management Personnel (“KMPs”) of insurers. While the amendments formally relate to executive remuneration, they reflect a broader regulatory shift towards policyholder-centric governance, enhanced management accountability and greater transparency within the insurance sector.
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