IIRM Holdings India Limited has announced a significant strategic development as its subsidiary company ventures into the insurance distribution business. The move represents a diversification effort aimed at exploring new growth opportunities in the financial services sector.

Board Approval and Business Change Details

The Board of Directors of IIRM Global Shared Services Private Limited, a subsidiary of IIRM Holdings India Limited, approved the business line change proposal during their meeting held on February 06, 2026. The decision was communicated to BSE Limited and The Calcutta Stock Exchange Limited in compliance with regulatory requirements.

Strategic Initiative and Market Entry

The business line change forms part of the group's strategic initiative to diversify operations beyond their current activities. The subsidiary will operate as a Corporate Agent under the Insurance Regulatory and Development Authority of India (IRDAI) framework, along with compliance to other statutory and regulatory authorities as applicable.

This expansion into insurance distribution represents the company's effort to tap into opportunities within the insurance sector, potentially broadening their revenue streams and market presence.

Regulatory Compliance and Future Updates

The announcement was made pursuant to Regulation 30 read with Schedule III, Part A, Para A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. IIRM Holdings has committed to keeping the stock exchanges informed about further developments, particularly regarding the receipt of regulatory approvals required for the new business operations.

The company's proactive communication approach ensures transparency with stakeholders as the subsidiary transitions into the insurance distribution business under the established regulatory framework.

IIRM Holdings India Limited , a prominent player in the insurance broking and risk management sector, has reported mixed results for the second quarter, with revenue growth accompanied by a decline in profit.

Financial Highlights

IIRM Holdings India reported a quarterly consolidated net profit of 52.10 million rupees, compared to 75.50 million rupees in the same period last year, representing a decline. However, the company's quarterly revenue increased to 596.20 million rupees from 482.30 million rupees year-over-year, showing growth in the top line despite the profit decrease.

The company's financial performance for Q2 and H1 is summarized in the following table:

The company's revenue growth in Q2 significantly outpaced the overall insurance industry growth of 1.80%, demonstrating IIRM's strong market position and effective business strategies.

Key Growth Drivers

The Construction and Property business, along with Retail insurance, were the primary drivers of growth in the second quarter. This performance is particularly noteworthy given the sluggish growth in the overall insurance industry.

Strategic Initiatives

IIRM has undertaken several strategic initiatives to enhance its market presence and diversify its product offerings:

1. Retail Business Expansion: The company has diversified its product mix by adding Retail health and life insurance, which is expected to yield enhanced margins in the coming quarters.

2. Technological Innovation: A B-2-B-2-C tech stack is being piloted this quarter, with plans for a nationwide launch in the last quarter of the fiscal year.

3. Reinsurance Segment Strategy: To address challenges in the Reinsurance segment due to revised regulations on foreign reinsurers, the company is implementing an alternate strategy. This includes shifting focus to products such as Mergers and Acquisition insurance and Bonds insurance, as well as expanding international reinsurance operations in Africa and South Asia.

Leadership Changes

The Board of Directors has approved significant changes in the company's leadership:

• Mr. Naveen Kumar will step down as Company Secretary effective November 3, 2025.
• Ms. Pooja Gaur will be appointed as the new Company Secretary from November 5, 2025. Ms. Gaur brings over 9 years of experience in corporate compliance and regulatory reporting.

Acquisition Plans

IIRM is actively pursuing an inorganic growth strategy to expand its market share:

• The company has reached definitive agreements for its first acquisition of the year, subject to regulatory approvals.
• Discussions are in advanced stages for two additional opportunities that could result in significant growth for the Group.
• The Board is exploring various funding options to support these expansion plans.

Industry Context

The overall insurance industry has shown sluggish growth in the first half of 2025, with Q2 premium growth at just 1.80% compared to the previous year. Despite this challenging environment, IIRM has managed to outperform the industry in terms of revenue growth, showcasing the strength of its business model and strategic initiatives.

Outlook

While the company faces challenges in maintaining profitability, its focus on retail business expansion, technological innovation, and strategic acquisitions positions it well for future growth in the dynamic insurance and risk management sector.

As IIRM continues to navigate the evolving regulatory landscape and market conditions, its diversified approach and strategic initiatives are expected to drive long-term value for stakeholders, despite the current pressure on profits.