Reinsurance

Increased reinsurance capacity keeps April reinsurance renewals flat

Globally, the reinsurance contracts between primary insurers and reinsurers are renewed in January

Irdai to introduce collaterals for reinsurance transactions with CBRs

The proposed guidelines given in an exposure draft will be applicable for all the reinsurance placements with CBRs by cedants or insurers from India

Indian insurers see steep rise in reinsurance rates in April renewals

Primary insurers transfer a portion of their risk portfolios to reinsurers by paying a certain premium to reduce the likelihood of paying a large obligation in the form of a claim

Irdai to allow insurers to auto renew FRN of cross border reinsurers

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

Irdai asks reinsurers to keep 50% of Indian underwritten biz within country

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

Insurance regulator Irdai proposes changes to reinsurance regulations

Seeks to revise order of preference while placing reinsurance business

IRDAI constitutes two task forces on issues of reinsurance support

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

Opportunities and challenges for India as Russia reaches out amid sanctions

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

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Term insurance premium set to rise by 25-30% after Munich Re hikes rates

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

There is no room for a reinsurer to pass on the risk: Munich Re India CEO

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

How GIC's ownership problem is keeping insurance biz from growing up

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

Lack of reinsurance cover magnifies non-life insurers' Covid-19 worries

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

GIC Re hikes premiums for property insurance segment under fire portfolio

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

Govt-owned AIC mulls launching crop reinsurance services outside India

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

Global reinsurers miffed at pro-GIC bias, seek level-playing field in India

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

MNC reinsurers, ITI Re work overtime to start ops as they await R3 nod

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

Lloyd's of London gets R1 licence for onshore reinsurance branch in India

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

Final nod for global reinsurers' branches likely by January 2017: IRDAI chief

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

ITI Reinsurance clears first hurdle for Irdai licence

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