A probable reason for the decline in the expense of management as compare to the previous year could be due to the change in the regulations bought out by IRDAI regarding the expense of management.
Chart 3.6.1Expenses of Management
Source: IRDAI Annual Reports for prior years and Public Disclosures of companies for 2021-22
As per IRDAI (Expenses of Management) Regulations for non-life and health companies, amounts incurred as Expenses of management over and above the prescribed limits have to be borne by the Shareholders. As compared to the previous year the amount incurred by the shareholder expenses has come down significantly