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The Insurance Regulatory and Development Authority of India grants special approval to eighteen cross border reinsurers for the financial year 2017-18 based on submissions and recommendations. Insurance companies, reinsurance companies, and foreign reinsurance branches must restrict reinsurance placements to a maximum of five percent of one hundred percent for specific listed cross border reinsurers. The authority publishes the filing reference numbers on its web interface.
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[Image omitted. See the official document.]
Ref: IRDA/NL/CIR/RIN/080/04/2017
Date: 18-04-2017
To All CEOs/CMDs of all Insurance/Reinsurance companies & Foreign Reinsurance Branches
Re: Cross Border Reinsurers granted approval under guideline no. 6 of the Guidelines on Cross Border Reinsurers
On the basis of the submissions made by cross border reinsurers and recommendations made by (re)insurers, the Authority has granted special approval to the below mentioned CBRs. These approvals are valid for the FY 2017-18.
| Approval No. | CBR name | Place |
|---|---|---|
| IRDAI/NL/CBR/2017-18/001 # | Ingosstrakh Joint Stock Insurance Company # | Russia |
| IRDAI/NL/CBR/2017-18/002 | Asian Reinsurance Corporation | Thailand |
| IRDAI/NL/CBR/2017-18/003 | CICA Re | Kenya |
| IRDAI/NL/CBR/2017-18/004 # | Republican Unitary Enterprise # | Belarus |
| IRDAI/NL/CBR/2017-18/005 # | Anadolu Anonim Turk Sigorta Sirketi # | Turkey |
| IRDAI/NL/CBR/2017-18/006 | Zep Re | Kenya |
| IRDAI/NL/CBR/2017-18/007 | FAIR Aviation Pool | Morocco |
| IRDAI/NL/CBR/2017-18/008 # | Baoviet Insurance Corporation # | Thailand |
| IRDAI/NL/CBR/2017-18/009 | Partner Reinsurance Company Ltd | Bermuda |
| IRDAI/NL/CBR/2017-18/010 | Misr Insurance Company | Egypt |
| IRDAI/NL/CBR/2017-18/011 | GIC Bhutan Re | Bhutan |
| IRDAI/NL/CBR/2017-18/012 # | East Africa Re # | Kenya |
| IRDAI/NL/CBR/2017-18/013 | Royal Insurance Corporation | Bhutan |
| IRDAI/NL/CBR/2017-18/014 | Covéa Coopérations | France |
| IRDAI/NL/CBR/2017-18/015 | Vietnam National Reinsurance Corporation | Vietnam |
| IRDAI/NL/CBR/2017-18/016 | Equator Re | Bermuda |
| IRDAI/NL/CBR/2017-18/017 | Indonesia Re | Indonesia |
| IRDAI/NL/CBR/2017-18/018 | PICC Re | China |
#: Reinsurance placements by (re)insurers/ FRBs to the CBRs indicated by # shall not exceed 5% of 100%.
The Filing Reference Numbers of the above Cross Border Reinsurers are available in the IRDAI web interface.
[Image omitted. See the official document.]
Yegnapriya Bharath (CGM, Non-Life)
परिश्रम भवन, तीसरा तल, बशीरबाग, हैदराबाद-500 004. भारत © : 91-040-2338 1100, फैक्स : 91-040-6682 3334 ई-मेल: irda@irda.gov.in वेब: www.irda.gov.in
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