SME Times News Bureau | 14 Jan, 2022
The Insurance Regulatory and Development Authority of India (IRDAI) closed FY21 with total fee income of about Rs 194 crore.
According
to IRDAI's annual report, the total fee income of the insurance
regulator last fiscal was about Rs 194 crore, up from about Rs 180 crore
earned in FY20.
The primary revenue for IRDAI is annual licence
renewal fee from the insurers -
life/non-life/reinsurers/agents/brokers/penalties and others.
Last
fiscal, IRDAI earned Rs 8.14 crore as fees for processing of
amalgamation of insurers, up from Rs 7.19 crore earned under the head
the previous fiscal.
During FY21, IRDAI had earned a surplus of
income over expenditure of about Rs 124 crore on a total income of about
Rs 269 crore, up from about Rs 102 crore on a total income of Rs 268
crore earned during FY20.
