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FOREIGN REINSURANCE BRANCHES
Jio-Allianz, Fairfax-backed Valueattics Re set to shake up India’s Rs 50,000-cr reinsurance marketIndia's ₹50,000-crore reinsurance sector is set for disruption with the entry of two new domestic players—Jio-Allianz, a joint venture betw...- Allianz Partners becomes first foreign reinsurer to launch operations in GIFT CityAllianz Partners launched IFSC Insurance Office at GIFT City, becoming the first foreign reinsurer. AWP P&C SA aims to transform India's re...
- IRDAI okays amendments to reinsurance normsIRDAI has simplified the format of the reinsurance program and brought in tandem the regulations for Indian insurers, Indian reinsurers, Fo...
- Foreign reinsurance units can repatriate up to 20% of excess assigned capitalAs per Irdai norms, the registration of branch offices of foreign reinsurers other than Lloyd's have 'assigned capital' and net owned funds...
- Foreign reinsurers may be allowed to open satellite offices in GIFT cityPresently, foreign reinsurers which already have branches in India have to apply for a fresh licence in GIFT City, enjoying taxation benefi...
- Irda rejects Watsa's plan to buy Sudhir Valia’s ITI ReinsuranceRegulator says company’s licence stipulates 5-year lock-in during which its shares can’t be sold.
- Reinsurers may get to invest in overseas sovereign bondsThe Rs1.5-lakh-crore general insurance market has become attractive for foreign reinsurers.
- Irdai forms panel for reinsurance framework reviewThe Insurance Regulatory and Development Authority of India (Irdai) has notified various regulations, guidelines, and circulars over the ye...
- General insurers vote against change of rule in favour of foreign playersThe insurers fear that the new regulation – which gives foreign reinsurers the first right of refusal in obtaining business in India — woul...
- Munich Re to open reinsurance branch office in MumbaiMunich Re is one of the first foreign reinsurers to receive approval for a dedicated branch in India following the 2015 amendment of the In...
- Foreign reinsurers to be operational in 6-9 months: IRDAPresently, state owned GIC Re is the only reinsurer operational in the country and foreign reinsurers have liaison office in India.
- Berkshire can't resist India any more, to return with reinsurance businessBerkshire had closed its online distribution two years after it began operations in 2013, as the online model failed to take off in a big w...
- IRDAI to meet to accord approval to foreign re-insurersGermany's Munich Re and Hannover Re, Swiss Re from Switzerland, SCOR of France, and the UK-based Lloyd's are looking to foray into Indian m...
- First round cleared for foreign resinsurersInsurance regulator, Insurance Regulatory and Development Authority (IRDAI) has given initial approval to four foreign reinsures to open th...
- Foreign reinsurers may repatriate profit: IRDAI reportInsurance regulator IRDAI today proposed that foreign reinsurers take back earned profit to their country.
- Reinsurer Swiss Re plans to enter IndiaSwiss Re is planning to set up shop in India after the country permitted foreign companies that cover the risk of insurers to open branches...
- Insurance Law: Reinsurance companies can now open branches in IndiaEntry of reinsurance companies into the Indian market will bring in knowledge and expertise together with underwriting capacities.
- Lloyd's of London plans India branch; in talks with governmentLloyd's is a market where members join together as syndicates to insure risk. It has 93 different underwriting businesses.
- 'We are not against foreign reinsurers being allowed branches'Yogesh Lohiya, Chairman, GIC in an interview with ET talks about GIC and the insurance industry.
- Reinsurers to get easier entryThe insurance amendment bill has been reworked considerably with changes in listing norms and relaxation in prescribed norms for reinsuranc...
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