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Life insurers compelled to reinsure 30% of the sums insured with GIC

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Magazine Issue: 
Atlas Magazine, ten years on [3]
Magazine date: 
Apr 2013

Financial authorities (IRDA) have required life insurers to reinsure up to 30% of the sums insured with GIC. While local insurance companies are already getting reinsured with the state owned reinsurer, this is the first time they are asked to cover a fixed percentage of the sums insured.
So far, only foreign reinsurers, holding at least a BBB rating from S&P over the past five years, are authorized to operate in life insurance in India.

Wed, 22/05/2013 - 16:31

Source URL: https://www.atlas-mag.net/en/article/life-insurers-compelled-to-reinsure-30-of-the-sums-insured-with-gic

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