The term 'General Insurance' is used to describe any insurance other than life insurance. It covers insurance products like health insurance, motor insurance, fire insurance, travel insurance, marine insurance and property insurance. Operating a general insurance brokerage firm will allow you to help customers compare and buy general insurance policies from different insurance companies.
But, for this business you need to get a General Insurance Broker License from the Insurance Regulatory and Development Authority of India (IRDAI) before you start. In this blog post, we shall be discussing the all major requirements for obtaining a General Insurance Broker License in India.
The General Insurance Broker License, officially known as Direct Broker (General) License, is a license issued by the Insurance Regulatory and Development Authority of India. It allows a company to solicit, arrange and procure general insurance policies for clients from different insurance companies in the industry. In return, it receives a brokerage/fee for its services.
A licensed general insurance broker can also provide other services like claim assistance, risk management services and other services that are permitted under the IRDAI (Insurance Brokers) Regulations, 2018. The Direct Broker License comes with perpetual validity, subject to payment of the prescribed annual fee and continuous compliance with applicable IRDAI regulations. Some websites still state that the license stays valid for a period of 3 years.
This is because they refer to earlier legal framework. After Sabka Bima Sabki Raksha Amendment of Insurance Laws Act, 2025, which came into force on 5 February 2026, the renewal system was replaced with a perpetual registration regime. As a result, the Direct Broker Licenses now remain continuously active without an end date unless they are suspended/cancelled by IRDAI for non-compliance.
To obtain a General Insurance Brokerage License (Direct Broker - General) in India, the applicant must satisfy all the requirements prescribed by Insurance Regulatory and Development Authority of India (IRDAI). The major requirements for this license are discussed below:-
The applicant desirous of obtaining the general insurance license in India must be one of the following:-
A company registered under the Companies Act, 2013.
A Limited Liability Partnership (LLP) registered under the LLP Act, 2008.
A registered co-operative society formed under the Co-operative Societies Act, 1912, or any similar law.
Any other entity recognized by the IRDAI.
An applicant applying for a General Insurance Broker License (Direct Broker) must maintain a minimum capital of Rs. 75 lakh. Companies and cooperative societies must have this amount as paid-up equity share capital.
The LLPs must maintain it as their capital contribution. It is important to note that the required capital must be maintained throughout the validity of the license.
Before applying for the direct broker license and throughout the validity of the license, the applicant must maintain a deposit of Rs. 10 lakh with a scheduled bank.
The applicant must pay the IRDAI-prescribed fees while applying for the license:-
Direct Broker Application Fee (Non-Refundable):- Rs. 25,000
Direct Broker Registration Fee (Fresh Registration):- Rs. 50,000
The applicant must have adequate infrastructure so as to carry on insurance broking activities effectively. This includes:-
Sufficient office space.
Required equipment.
Trained manpower.
Proper IT infrastructure.
The following documents must be submitted with IRDAI while filing the non-life insurance broker application:-
Duly Filled Form B (Application Form).
Proof of Payment of the Prescribed Fees.
Memorandum of Association (MOA) and Articles of Association (AOA). Insurance Broking to be included in the Object Clause.
Declaration from Principal Officer confirming that no director, Partner or Key Managerial Personnel is Disqualified u/s 42D of Insurance Act 1938.
List of At Least Two Qualified Insurance Brokers along with their Qualifications.
Details of Applicant's Infrastructure.
Details of Directors, Partners, Promoters and Key Managerial Personnel.
Details of Principal Bankers and Statutory Auditors.
Form G containing Details of Principal Officer and confirming that they satisfy the Prescribed Criteria.
Income Tax Returns of Shareholders for Last 3 Years.
Net Worth Certificates of Shareholders.
Affidavit regarding Source of Invested Funds.
Details of Bank Account.
To apply for the General Insurance Brokerage License, you need to fulfill all the steps explained below:-
Step 1:- The applicant must file an application for insurance broker registration in Form B of Schedule I of the Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018. Along with application, the applicant must submit required documents and pay the prescribed application fee.
Step 2:- After IRDAI receives the application, it will carefully scrutinise it along with all the documents. If required, the Authority may ask for additional information, documents or clarifications.
Step 3:- The applicant must submit required information, documents or clarifications within the prescribed time, i.e., 30 days from date of such communication.
Step 4:- If IRDAI is satisfied that applicant fulfills all the prescribed conditions, it shall grant an in-principle approval for general insurance broker registration.
Step 5:- After the grant of in-principle approval, the applicant must comply with additional requirements specified by IRDAI and pay prescribed broker registration fee.
Step 6:- Once IRDAI is satisfied that the applicant has complied with the applicable requirements, regulations, rules and guidelines, it shall issue the Certificate of Registration in Form J.
To start a general insurance broker company in India, it is mandatory to obtain a General Insurance Broker License from IRDAI. The applicant has to fulfil all the prescribed requirements including the eligibility conditions, capital requirement, deposit requirement, infrastructure requirement, submission of documents and payment of the prescribed fees before the license is granted. Once these requirements are satisfied and the application is approved by IRDAI, the applicant can obtain the Certificate of Registration and then finally carry on general insurance broking activities in India legally.
If you want to acquire a General Insurance Broker License for your company and require professional help then you may contact our IRDAI consultants at Registrationwala. We have supported thousands of our clients in obtaining IRDAI licenses and fulfilling post-registration compliances. Our team will be more than happy to guide you through all the steps of securing an IRDAI broker license.
Q1. Which authority issues the Certificate of Registration to general insurance brokers in India?
A. The Insurance Regulatory and Development Authority of India issues the Certificate of Registration to general insurance brokers in India.
Q2. What is the validity of direct broker license?
A. The direct broker license comes with perpetual validity, subject to payment of annual fees and compliance with IRDAI regulations.
Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, finance and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.
Want to know More ?
Transform your Business.
