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FOREIGN REINSURERS
India's GIC Re plans to reduce share of overseas property risk as climate losses riseIndian reinsurer GIC Re is strategically shifting its overseas business focus. Amidst escalating climate-related losses globally, the compa...- Will provide insurance to all vessels coming to or going from India: DFS Secretary NagarajuIndia has launched its own maritime insurance pool. This initiative aims to support Indian maritime trade. Vedanta Sterlite, Balrampur Suga...
- Centre allows 100% FDI in insurance via auto route"Foreign investment in this sector shall be subject to compliance with the provisions of the Insurance Act, 1938(4 of 1938), and the condit...
- India notifies 100% foreign investment in insurance sector, LIC limit stays at 20%The central government has notified 100% Foreign Direct Investment (FDI) in insurance companies under the automatic route, allowing foreign...
- Finance Ministry plans to broaden Actuaries Act scope beyond insurance, pensionsThe finance ministry is set to update the Actuaries Act, 2006. This will expand actuarial science to include data science and risk manageme...
- IFSCA key to India’s global reinsurance hub ambitions: Financial Services SecretaryIndia is poised to emerge as a major player in the global reinsurance landscape. M Nagaraju, Secretary of Financial Services, has encourage...
- 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...
- New India Assurance, GIC Re at odds over Kudankulam Nuclear Power Plant insurance coverThe insurance cover of more than ₹43,200 crore is sought for the under-construction units 3 and 4 of the Kudankulam Nuclear Power Plant. Th...
- 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...
- Reinsurers may get to invest in overseas sovereign bondsThe Rs1.5-lakh-crore general insurance market has become attractive for foreign reinsurers.
- 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...
- 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.
- 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...
- Global reinsurance companies rethink India entry plans"GIC Re being an Indian reinsurer should enjoy preference in the order of cessions by Indian insurers," IRDA said in the exposure draft.
- 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...
- Foreign reinsurers may get India accessThe government may allow foreign reinsurance companies to set up branch offices in the country with certain regulatory restrictions, accord...
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