International reinsurers to operate in India within 6 months
Wednesday, 12 21 2016, Category: Insurance and Reinsurance, Country: India
As India opens its market to international reinsurers, the Insurance Regulatory and Development Authority of India (IRDAI) expects foreign reinsurers to secure final clearance to open branches soon and several to be operational within six to nine months.
The regulator said seven applications from foreign players have been received so far. Foreign reinsurers must secure three levels of licences from the insurance regulator to start operations in India.
Source: Intelligent Insurer