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REINSURER LICENCE
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...- GoDigit promoters get Irdai nod for first pvt reinsurerValueattics Reinsurance Ltd, backed by Kamesh Goyal and Fairfax, becomes the first private reinsurer to gain regulatory approval in India. ...
- InsuranceDekho secures composite broking licence, to start reinsurance bizInsuranceDekho, a Gurugram-based insurance marketplace, has secured the composite insurance broking licence from IRDAI. Its customers can n...
- Policybazaar to enter reinsurance business with upgraded licencePB Fintech's subsidiary, Policybazaar Insurance Brokers, has received approval to enter the reinsurance business. It reported a net profit ...
- 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.
- Prem Watsa’s Digit Insurance acquires ITI ReinsuranceThe holding company Digit Info Works will hold 100% of the reinsurance company.
- Reinsurers may get to invest in overseas sovereign bondsThe Rs1.5-lakh-crore general insurance market has become attractive for foreign reinsurers.
- IRDAI clears different licences to new playersIrdai in its board meeting held on March 3 has cleared different level of regulatory clearances to the new companies intending to enter cou...
- Swiss Re receives IRDAI approval to open branch in MumbaiWith the composite branch licence, Swiss Re will be able to operate in India and offer both non-life and life and health reinsurance soluti...
- 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.
- IRDA gives R1 nod to ITI for reinsurance businessThe reinsurance market in India is estimated to be $2billion. ITI Investment is a subsidiary of Fortune Financial Services, which is contro...
- 10 new players apply to Irdai to start operations in India"The regulator is currently processing applications of ten players consisting of insurers and re-insurers," IRDA member (Finance and Invest...
- Global reinsurer XL Catlin applies for licence in IndiaThe firm said an application has been filed with Insurance Regulatory Development Authority of India seeking to establish a reinsurance bra...
- General Insurance Corporation Re eyes licence, drops bid to buy Lloyd's of London MemberGIC Re has abandoned its quest to buy a Lloyd’s of London syndicate member and decided to apply for membership of the syndicate instead.
- GIC Re says it is not threatened by competition from global players, profit up 20%Backed by better investment income, a dip in claims and lower forex losses, reinsurer GIC Re today reported a 20 per cent rise in net profi...
- 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...
- Expansion on mind, GIC Re poised to buy South Africa’s SaxumThe Johannesburg-based Saxum is a composite reinsurer underwriting both life and non-life business, and after acquisition will become the o...
- Swiss Re scouts for life and health partnersReinsurance giant Swiss Re is looking for an Indian partner for its proposed venture into life and health insurance.
- IRDA refuses to renew Willis India licenceWillis India Insurance Brokers has been denied renewal of its broking licence in India for regulatory violations.
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