IRDAI migrates key reinsurance returns and approvals to upgraded BAP portal
The Insurance Regulatory and Development Authority of India (IRDAI) has formally announced a technology migration that will significantly change the way reinsurance entities interact with the regulator for reporting and approval purposes. Through Circular Ref. No. IRDAI/REINS/CIR/MISC/114/08/2026 dated 28th August 2026, IRDAI has confirmed that major reinsurance regulatory returns and related functionalities will now be handled through the upgraded Business Analytics Platform (BAP).
This circular is addressed to:
- All insurers
- Reinsurers
- Foreign Reinsurer’s Branches (FRBs)
- Lloyd’s India and its constituents
The core objective is to establish a unified, digital interface for reinsurance regulatory reporting and select approval processes, thereby phasing out earlier fragmented modes of submission for the identified items.
Regulatory background and context
IRDAI has been progressively digitising its supervisory framework to improve data quality, timeliness and analytical capabilities. The Business Analytics Platform (BAP) is at the centre of this initiative, intended to serve as an integrated hub for regulatory submissions and analytics.
The present circular builds on the existing framework laid down in IRDAI’s Master Circular on Submission of Returns, which already consolidates the filing obligations of insurers, reinsurers and Foreign Reinsurance Branches. However, the new circular does not introduce fresh substantive obligations. Instead, it shifts the medium and channel of compliance for certain specified reinsurance-related returns and applications.
The current move is essentially a migration of process and platform, not a creation of new reporting categories.
Entities that were earlier submitting reinsurance returns and related applications through legacy systems or separate modules must now re-align to the integrated Reinsurance BAP portal as per the timelines stated in the circular.
Scope of migration to the upgraded BAP
Functions and returns covered
IRDAI has specified that the following items are now migrated to, and must be accessed via, the upgraded BAP platform:
- Reinsurance regulatory returns
- Reinsurance Summary Formats (Advance and Final)
- Applications for issuance of File Reference Number (FRN) to Cross Border Reinsurers (CBRs)
- Applications relating to appointment and remuneration of the Chairperson/CEO of Reinsurers and FRBs
- Other identified reinsurance-related functionalities that IRDAI has integrated into the portal
By doing so, IRDAI seeks to make the BAP portal a single window for the above reinsurance-specific functions rather than having multiple, disjointed filing channels.
Entities required to use the Reinsurance BAP portal
The circular expressly applies to:
- All insurance companies (life, general, health, specialised)
- All registered reinsurers in India
- Foreign Reinsurer’s Branches operating in India
- Lloyd’s India and its constituents
Each of these entities is required to transition the specified returns and applications to the integrated Reinsurance BAP portal according to the financial year (FY) timelines indicated by IRDAI.
The responsibility to ensure timely migration and ongoing compliance rests with the regulated entity and its compliance and reinsurance teams.
Timelines: when different returns shift to BAP
IRDAI has clearly laid down the financial years from which different categories of returns and applications must be filed exclusively via the Reinsurance BAP portal.
1. Reinsurance Regulatory Returns
- Effective from:
FY 2024-25 - All Reinsurance regulatory returns for FY 2024-25 and onwards must be uploaded through the integrated Reinsurance BAP portal.
- Entities must ensure that internal systems, data formats and reporting cycles are aligned in time for FY 2024-25 filings.