Reinsurance investments with companies based abroad

Insurance Regulatory and Development Authority (IRDA) has required that foreign brokers and reinsurers draft a report with detailed description of all of their investments and transactions carried out with Indian insurance companies. The information requested is due to be supplied within 45 days from the closing of the first semester of the year 2016/2017.

This move is aimed at reinforcing the protection of the business invested with reinsurers that are not domiciled in India.

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