Russian reinsurer gets Indian authorization
Tuesday, 03 20 2018, Category: Insurance and Reinsurance, Country: India
Russian National Reinsurance Company (RNRC) got an approval from the Indian insurance regulatory authority (IRDA of India) which is necessary for starting operation in the Indian insurance market as a foreign reinsurer, - the reinsurer informed on the official website on March 16.
"This is a really timely event for RNRC's business, - said the Company's President Nikolay GALUSHIN - The majority of renewed treaty programs and big facultative allocations in the Indian market will be effective from April 1 which is also the beginning of the Indian financial year. Received authorization gives RNRC a possibility to accept for reinsurance risks from Indian insurers and brokers as well as deliver its development strategy in the international market".