Religare Subsidiary MIC Insurance Web Aggregator License Surrendered

Religare Enterprises Ltd has announced the finalization of the suspension of operations for its wholly-owned subsidiary, MIC Insurance Web Aggregator Private Limited (MIC). Following earlier announcements regarding the suspension and surrender of its web aggregator license, the Insurance Regulatory and Development Authority of India (IRDAI) has officially approved the voluntary surrender of MIC's license. Consequently, MIC ceased to be an Insurance Web Aggregator effective August 05, 2026. The company states there is no impact on Religare Enterprises as MIC was not carrying on any business.