Step 1: Understanding the Organization:
The Insurance Regulatory and Development Authority of India (IRDAI) is the supreme statutory body responsible for regulating and promoting the insurance and re-insurance industries in India. It was established by the IRDA Act, 1999.
Step 2: Location of Headquarters:
The IRDAI was initially headquartered in Delhi. However, in 2001, the headquarters were moved to Hyderabad, Telangana.
Therefore, the current head office of the IRDAI is located in Hyderabad.
Step 3: Analyzing the Options:
(A) Pune: Incorrect.
(B) Hyderabad: Correct.
(C) Delhi: This was the former location of the headquarters until 2001.
(D) Mumbai: While Mumbai is the financial capital of India and hosts the headquarters of many financial institutions like the RBI and SEBI, the IRDAI is headquartered in Hyderabad.
Step 4: Final Answer:
The headquarters of the Insurance Regulatory and Development Authority (IRDAI) is located in Hyderabad.