Section 8 in Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations, 2015
8. Requirements of Capital.
(1)An applicant exclusively doing insurance distribution shall have a minimum equity share capital or contribution and net worth of rupees fifty lakh. They shall maintain the net worth at all times.(2)In case of applicant exclusively doing insurance distribution, the aggregate holdings of equity shares or contribution by a foreign investor, including portfolio investors, shall be as prescribed by the Central.
