Section 22(1) in Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018
(1)The net-worth of an Insurance Broker shall at no time during the period of certificate of registration fall below:i. rupees fifty lakh for direct broker;ii. 50% of the minimum capital requirements or contribution or equivalent specified under Regulation 19(1) for reinsurance / composite broker.Explanation: For the purposes of these regulations, "net worth" shall have the meaning assigned to it in the Companies Act 2013 and as amended from to time.
