Hardening of reinsurance terms
Indian insurers are witnessing harder reinsurance terms, especially those pertaining to natural catastrophes. According to the treaties results, this rise may reach 15 to 20%. The commissions of proportional treaties have also been reduced at least by 10%. GIC, the state owned reinsurer, has decided to reduce its exposure on the local market. International reinsurers also impose limits to natural catastrophes. In India, 40% of renewals took place on April 1.
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Wed, 10/04/2013 - 14:48
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