The Authority hadconstituted a Committee vide its order dated 12^th January 2017 forreviewing IRDA (Linked Insurance Products) Regulations 2013 and IRDA(Non-Linked Products) Regulations 2013. The Committee submitted its report on 7^thDecember 2017 along with their recommendations on the above mentionedRegulations. The report of the Committee was also placed in the Authority’swebsite for comments of all stakeholders.

The Authority, herebyconstitutes a working group for the purpose of reviewing the recommendations ofthe ‘Committee on Review ofProduct Regulations – Life’ and feedback received thereon forpreparation and submission of draft regulations to the Authority. The Working Groupcomprises of the following members:

1.         ShriS P Chakraborty, GM (Actuarial), IRDAI, Chairperson of the Group.

2.         ShriJagannatham P S, GM (Life), IRDAI, Member

3.         ShriMahtabuzzaman, OSD (Life), IRDAI, Member

4.         ShriDinesh Pant, Appointed Actuary, Life Insurance Corporation of India, Member

5.         ShriSubhendu Bal, Appointed Actuary, SBI Life Insurance Co. Ltd. Member

6.         ShriSai D Srinivas, Appointed Actuary, Bajaj Allianz Life Insurance Company Ltd,Member

7.         ShriSunil Sharma, Appointed Actuary, Kotak Life Insurance Company Ltd, Member

8.         ShriBikash Chowdhury, Appointed Actuary, Future Generali Life Insurance CompanyLtd, Member

9.         ShriPankaj Kumar Tewari, DGM (Actuarial), IRDAI, Member Convenor

The terms of reference ofthe Working Group will be as follows:

1.     Toreview the recommendations of the ‘Committeeon Review of Product Regulations – Life’.

2.     Toexamine the feedback received from various stakeholders on the above mentionedCommittee report.

3.     Toprepare the draft product regulations considering the above report and feedbackas reference points.

The Working Group shallmeet as often as possible and submit their recommendations to the Member(Actuary) within one month from the date of constitution of the working group. Themembers of the working group shall be entitled to conveyance and otherallowances as per the rules of the Authority. The working group may inviteother persons to the meeting(s) as special invitees as may be required.

Member (Actuary)