872 million USD of premiums ceded to branches of foreign reinsurers operating in India

Magazine Issue:

Insurance in the United States, a complex organization [3]

Magazine date:

Jan 2019

Rachid Ben Yedder The Indian supervisory authority (IRDA) has revealed that the reinsurance premiums ceded to the nine foreign reinsurance branches operating in India for the financial year 2017-2018 amounted to 872 million USD.

Swiss Re got 287 million USD. Munich Re came second with 183 million USD. Scor third with 166 million USD of accepted premiums.

The total assigned capital by the nine branches reached 360 million USD at March 31, 2018, up by 130% over one year.

Three branches reported post-tax profits. They are Swiss Re (8.5 million USD), Axa France (1.1 million USD) and Lloyd's (281 000 USD). The other six reinsurers recorded losses amounting to 45 million USD.

Read also:

Reinsurance treaties: GIC Re given the right of first refusal [4]

Fri, 25/01/2019 - 14:07

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