by AIP Online Bureau | Feb 23, 2024 | Indian News, Non-Life, Regulation, Reinsurance
The IRDAI, after consultation with the Advisory Committee, and with the previous approval of the Central Government has taken the decision that the percentage cession of the sum insured on each general insurance policy to be reinsured with the Indian Re-insurer (GIC...
by AIP Online Bureau | Feb 1, 2023 | Indian News, Non-Life, Policy, Regulation, Reinsurance
The government has notified move on Tuesday saying that the entire Obligatory Cession is to be placed with General Insurance Corporation of India (GIC Re) only. Mumbai/New Delhi: Disappointing the private sector general insurers and foreign reinsurers which are having...
by AIP Online Bureau | Jan 17, 2022 | Indian News, Intermediaries, Non-Life, Regulation, Reinsurance
The approximate size of the Indian reinsurnace market is around Rs 55,000 cror in FY.2020-21. To begin with, obligatory cession for GIC Re was 10 per cent which was reduced to five per cent afterwards and the foreign reinsurers which are having braches in India are...
