This Master Circular is issued under Section 34 of the Insurance Act, 1938, and Section 14 of the IRDA Act, 1999, in conjunction with Regulation 7 of the IRDAI (Actuarial, Finance, and Investment Functions of Insurers) Regulations, 2024. It provides guidance on various provisions of these regulations and applies to all insurers, including those exclusively in reinsurance, unless stated otherwise. 
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