Reinsurance

Move aimed at improving ease of doing business; reinsurers must first meet regulator's criteria for obtaining renewal, which would be available FY24 onwards

Any retrocession up to 20%, to the branch of a foreign insurer shall be adjusted against the required minimum retention of 50%

Seeks to revise order of preference while placing reinsurance business

The terms for reference for the task force include issues discussed by the industry players with Irdai in the recently concluded bi-monthly meeting with the top honchos of the general insurance firms

Gains likely with working of a crucial corridor, revival of Rupee-Ruble trade and benefits for Indian insurers; setback for New Delhi's financial sector foray into Moscow

To combat tighter underwriting standards, consult a distributor that could point you towards an insurer that covers people with your profile

Reinsurance rates hiked by upto 40%; Premiums may increase by 30%

'A reinsurer is the last end of the chain in the insurance business', said Hitesh Kotak

Government shareholding and preferential regulation have skewed the reinsurer's efficiency and, by extension, that of the non-life insurance industry's too

Indian companies have to take on a high commitment to shoulder the loss (stop loss) or else pay a high reinsurance premium

The impact of increase in premiums for individual insurers will be different, depending on the kind of risk they are participating in

The firm is currently in discussions with intermediaries to launch the product by January 2020

Many are reluctant to invest financial and human capital in a scenario in which GIC Re enjoys the advantage of right of first refusal in reinsurance contracts

French reinsurer Scor Group said it will establish a branch office as soon as it receives R3 authorisation

After R1, the regulator gives R2 and R3 licenses post which the branch can become operational

For the final R3 approval, reinsurers will be required to bring in capital to set up a branch after the second state of approval, which is likely in October, T S Vijayan said

At present, there is only one domestic reinsurer, General Insurance Corporation of India

Recent Chennai floods led to heavy losses for insurers to the tune of Rs 5,000 cr