Vedavaag Systems Limited announced that its wholly-owned subsidiary, Vedavaag Financial Insurance Broking Services Private Limited, has received its Certificate of Registration from the Insurance Regulatory and Development Authority of India (IRDAI). This license, effective October 29, 2026, authorizes the subsidiary to operate as a Direct (Life & General) Insurance Broker under Registration No. 1198. This strategic acquisition enhances the company’s service offerings and market presence in the insurance broking sector.
Subsidiary Obtains IRDAI Registration
Vedavaag Systems Limited is pleased to announce a significant milestone for its wholly-owned subsidiary, Vedavaag Financial Insurance Broking Services Private Limited. The subsidiary has officially received its Certificate of Registration from the Insurance Regulatory and Development Authority of India (IRDAI), granting it the authorization to act as a Direct (Life & General) Insurance Broker.
Key Details of the Registration
The Certificate of Registration was issued on October 29, 2026, with the registration number 1198. This license empowers the subsidiary to conduct insurance broking activities in compliance with the provisions of the Insurance Act, 1938, and related regulations. The subsidiary’s new role as an IRDAI-registered broker is expected to strengthen Vedavaag Systems’ overall market position and expand its service capabilities within the financial services sector.
Operational Impact and Future Outlook
This development is in line with the company’s strategic initiatives to broaden its financial services portfolio. The subsidiary’s ability to directly undertake insurance broking activities marks a key step in its growth trajectory. The certificate is valid from October 29, 2026, and will remain in force subject to the payment of annual fees and adherence to regulatory requirements.
Source: BSE
