Next wave of reinsurers into India - FREE

Next wave of reinsurers into India - FREE

The Insurance Regulatory and Development Authority of India (IRDAI) has granted approval to 23 cross border reinsurers (CBR) for the year 2016-17, according to an announcement on its website.

Cross-border reinsurers are classed as those who do not have a physical presence in India but carry on reinsurance business with Indian insurance companies.

Those approved include: Partner Re (Bermuda); Ingosstrakh Joint Stock Insurance Company (Russia); Axa Insurance (Singapore); Asian Reinsurance Corporation (Thailand); Trust Re (Bahrain); United Overseas Insurance Company (Singapore); Equator Reinsurances Ltd (Bermuda); East Africa Reinsurance Company Ltd (Nairobi); Vietnam National Reinsurance Corporation (Vietnam); CICA Re (Kenya); Arab Insurance Group (Labuan); Union Insurance Company (UAE); MISR Insurance Company (Eygpt); and Iran Insurance Company.

According to the Hindu Business Line newspaper, the regulator recognised 244 reinsurers and 90 Lloyds Syndicates in the years 2015-16 and in 2014-15, 238 reinsurers and 87 Lloyds Syndicates were approved.

It is likely that the authority may give further approvals in future, the report added.

The full list can be found here.

Latest Issue

November 2018


In this month's Reactions

  • Mike McGavick interview
  • Baden Baden roundup
  • SIRC roundup
  • PCI roundup
  • Reactions North American Conference 
  • Reactions North American Awards
  • Aerospace 1/1 renewals
  • Solar power reinsurance



Follow Us on Twitter @reactionsnet

Catastrophe Centre

Catastrophe Centre