Laws and sections by number or title, due dates, pages, and updates.
The Insurance Regulatory and Development Authority of India grants special approval to six cross border reinsurers for the financial year 2020-21. Insurers and exempted insurers receive Filing Reference Numbers for Zep Re, East Africa Reinsurance Company, Nepal Reinsurance Co., Asian Reinsurance Corporation, FAIR Aviation Pool, and Ingosstrakh Insurance Company. Reinsurance placements by insurers to these cross border reinsurers must not exceed five percent of the total reinsurance premium ceded outside India.
Key dates
Who is affected
Thresholds
Ask about this circular
[Image omitted. See the official document.]
Ref: IRDA/RI/CIR/MISC/068/03/2020
Date: 19-03-2020
To CEOs/CMDs of all Insurers and Exempted Insurers,
Re: Filing Reference Number (FRN) for Cross Border Reinsurers granted approval under Regulation 4 of IRDAI (Re-insurance) Regulation, 2018.
On the basis of the submission made by cross border reinsurers and recommendations made by insurers, the Authority has granted special approval to the below mentioned CBR's for the FY 2020-21.
| FRN No. | Name of CBR # | Country |
|---|---|---|
| CBR00330137/202021 | Zep Re (PTA Reinsurance Company) | Kenya |
| CBR00330138/202021 | East Africa Reinsurance Company Ltd. | Kenya |
| CBR00490139/202021 | Nepal Reinsurance Co. Ltd. | Nepal |
| CBR00720140/202021 | Asian Reinsurance Corporation | Thailand |
| CBR00450141/202021 | FAIR Aviation Pool | Morocco |
| CBR00590142/202021 | Ingosstrakh Insurance Company PJSC | Russia |
#: Reinsurance placements by insurers to the above stated CBR's shall not exceed five percent (5%) of the total reinsurance premium ceded outside India.
[Image omitted. See the official document.] Suresh Mathur Executive Director
सर्वे नं.-115/1, फाइनेंशियल डिस्ट्रिक्ट नानकरामगुडा, गच्चीबावली हैदराबाद - 500032 दूरभाष: +91-40-20204000
Survey No. 115/1, Financial District Nanakramguda, Gachibowli, Hyderabad - 500032 Tel: +91-40-20204000 Page 1 of 1
