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The Insurance Regulatory and Development Authority of India directs insurers to submit pending annual and half-yearly reinsurance returns through the Business Analytics Project module. General insurance companies, standalone health insurance companies, and GIC Re must submit missing returns for financial years 2013-14, 2014-15, and 2015-16 by 30 November 2016. Insurers must also submit half-yearly reinsurance returns for financial year 2016-17 by the same date. This submission requirement excludes forms Input_NL_34, 35, and 38 because those forms remain under modification. Insurers must continue hardcopy and Excel softcopy submissions according to usual practice until the Authority issues further instructions.
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Key dates
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Ask about this circular
[Image omitted. See the official document.]
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA
CIRCULAR
Ref: IRDA/NL/CIR/RIN/202/10/2016
Date: 13-10-2016
To
All CEOs/CMDs of General Insurance Companies/ Standalone Health Insurance companies / GIC Re
Sub: Submission of Returns for Non Life (Reinsurance) through Business Analytics Project (BAP)
We refer to the circular ref IRDA/NON-LIFE/CIR/MISC/031/02/2015 dated 11-02-2015 regarding the submission of Returns of Non-Life (Reinsurance) through Business Analytics Project (BAP).
The insurers were instructed to submit the Non Life (Reinsurance) returns from FY 2013-14 onwards in the BAP Non Life (Reinsurance) Module. We observe that some insurers have not yet submitted the complete set of returns in the module.
Insurers who have not submitted their Annual and Half-yearly returns in the BAP-Non Life (Reinsurance) Module for the FY 2013-14, FY 2014-15 & FY 2015-16, till date, are advised to submit all the forms, except Forms Input_NL_34, 35 and 38 (which are now under modification) by 30th November'2016.
Further, you are requested to submit Half Yearly reinsurance returns for the FY 2016-17 by 30th November'2016.
You are also advised to continue with the hardcopy submissions of the reinsurance returns along with a soft copy of the same (in excel format), as per the usual practice, within the prescribed time lines, until further advises from the Authority.
Sd/- Yegna Priya Bharat CGM (Non-Life)
परिष्रम भवन, तीसरा तल, बशीरबाग, हैदराबाद-500 004. भारत (C): 91-040-2338 1100, फैक्स: 91-040-6682 3334 ई-मेल: irda@irda.gov.in वेब: www.irda.gov.in
Parisharam Bhavan, 3rd Floor, Basheer Bagh, Hyderabad-500 004. India. Ph.: 91-040-2338 1100, Fax: 91-040-6682 3334 E-mail: irda@irda.gov.in Web.: www.irda.gov.in
