Document Detail

Title: To CEOs of all Life Insurers including GIC Re (Life Business)
Reference No.: IRDA/Actl/BAP/Cir/066/2015-16
Date: 24/04/2015
Submission of ARA, AAAR and Reinsurance Returns
The Authority is opening the process of online filing and submission of returns to the insurers and other regulated entities, for different functions, in a phased manner. The module enabling the filing or submission of returns relating to Actuarial Valuation – Life is now ready for release.
Insurers are required to access the website www.irdabap.org.in for submitting the returns. The Administrator credentials have already been provided to the Appointed Actuary and Principal Officer of Life insurers. The administrators may create sub-IDs for the Actuarial-Life returns module.
The closing figures for various lines of business in the ARA, AAAR and Reinsurance returns as on 31st March, 2013 were obtained from Life insurers in the form of cut-over data and have already been uploaded in the server. Insurers are advised to submit the quarterly returns relating to the Reinsurance and KT-Q in the provided templates from the quarter ending 30th June, 2013 and onwards in the Actuarial-Life Module. The timelines for submission of the quarterly and annual returns shall be as follows:
 
 
 
 
Period of the Return
Timelines for submission with digital Signatures
Quarter ending 30th June, 2013
31st May 2015
 
Quarter ending 30th September, 2013
Quarter ending 31st December, 2013
Quarter ending 31st March, 2014
Quarter ending 30th June, 2014
Quarter ending 30th September, 2014
Quarter ending 31st December, 2014
 The templates to be used for the purpose of filing the returns are available on the website of the Authority as well as on the portal as indicated above.
Insurers are required to note that:
I. The instructions for filling and furnishing the data templates are placed in the login area of the Actuarial-Life Returns Module of the BAP. The Authority may revise the same based on requirements and suggestions, and the updated version, if any, shall be made available to all users.
II. Insurers have already furnished/ published the quarterly returns/ disclosures for FY 2013-14 in physical/ PDF form and the same may be cross checked with the returns that would be submitted through the BAP Module.
III. A helpline system to assist users at insurers’ side for filling up and uploading and submitting the templates has been made available. The helpline number is 040-23381111. Insurers may also escalate the issues that remain unresolved through the helpline, at the following:
Issues
Contact Particulars
Contact number
Technical Issues
bap.support at irda dot gov dot in
040-23381111
Form related issues
Mr.Lakshmi Narasimhan from L&T infotech - lakshminarasimhan.rangaswamy at lntinfotech dot com
Mr.Sujoy Saha – sujoy at irda dot gov dot in
Mr. Sudipta Bhattacharya – sudiptab  at irda dot gov dot in
09901737000
040-23381137
040-23381140
 
 IV. Insurers are required to use digital signatures of Appointed Actuary and Principal Officer as the Authorized Signatories for the submissions through the BAP system. Insurers may obtain the digital signatures from the Authorized Vendors.
V. Insurers are advised to take suitable steps to generate input files as per the prescribed templates, from their systems, to be directly uploaded in the BAP Module without manual intervention. Insurers are also advised to ensure that there are adequate manual controls and validations to ensure that the data that is submitted through the BAP portal matches with the data submitted to the Authority.  
VI. Insurers are required to submit the ARA, AAAR and Reinsurance forms as per the templates provided in BAP portal. The yearly returns for the financial year 2014-15 are to be submitted in physical and excel format as has been done in previous years apart from submission through BAP portal as the electronic submission is being commissioned for the first time.
<br/><br/>
Pournima Gupte
Member (Actuary)

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