Religare Enterprises Limited Confirms Voluntary Surrender of MIC Insurance Web Aggregator License
Religare Enterprises Limited has confirmed that its wholly-owned subsidiary, MIC Insurance Web Aggregator Private Limited (MIC), has voluntarily surrendered its web aggregator license. The surrender was officially approved by the Insurance Regulatory and Development Authority of India (IRDAI) on August 05, 2026. As a result of this approval, MIC ceased to function as an Insurance Web Aggregator effective from the same date.The voluntary surrender follows previous disclosures regarding the operations of the subsidiary. The formal regulatory action by IRDAI marks the conclusion of MIC’s role in this capacity.
Details concerning the license status and its impact on the parent entity have been provided:
| Particulars | Details |
|---|---|
| Regulatory Authority | Insurance Regulatory and Development Authority of India (IRDAI) |
| License Status | Certificate of Registration to act as Insurance Web Aggregator surrendered |
| Impact on Listed Entity | No impact, as MIC is not carrying on any business |
The details provided by the company confirm that there is no financial or operational impact on Religare Enterprises Limited following the cessation of this activity for MIC.
RELIGARE Stock Price Movement
Today, Religare Enterprises Limited shares edged higher in post-market trading, finishing at ₹257.20 after gaining 0.47%. The equity saw a volume of 244,913 shares traded during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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