Indian regulator calls reinsurers to report overseas transactions
Saturday, 02 04 2017, Category: Insurance and Reinsurance, Country: India
The Insurance Regulatory and Development Authority of India (IRDAI) has called on reinsurance companies to submit details of reinsurance transactions that involve overseas firms.
In a recent note, the IRDAI, which is the country’s insurance and reinsurance industry regulator, said that “it has been brought to the notice of the Authority that Reinsurance/Composite brokers undertake reinsurance transaction between entities that are domiciled in foreign jurisdictions.”
Source: Reinsurance News