IRDAI Unlocks New Door—Wealth First to Offer Direct Insurance Solutions

Wealth First Portfolio Managers Ltd, a leading Ahmedabad-based wealth management firm, has announced that its wholly owned subsidiary, Wealthshield Insurance Brokers Private Limited, has received in-principle approval from the Insurance Regulatory and Development Authority of India (IRDAI) to operate as a Direct Insurance Broker. The approval, granted on June 9, 2025, marks a strategic expansion into the insurance distribution space.

 

What This Means

Strategic Context

Leadership Commentary

“This approval is a significant milestone in our journey to offer holistic financial solutions. We’re excited to bring insurance advisory under our umbrella,” said Ashish Shah, Managing Director of Wealth First Portfolio Managers Ltd.

 

Sources: StockInsights.ai – IRDAI Approval Announcement, Wealth First – Official Disclosure Letter to NSE, Wealth First Portfolio Managers Ltd – Company Website, Screener, Moneycontrol