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This refers Guidelines on Cross Border Reinsurer issued by the Authority vide Circular No IRDAI/NL/GDL/RIN/017/01/2016 dated 19-01-2016 and Circular no IRDA/NL/GDL/RIN/065/04/2016 dated 01-04-2016.
The guidelines stipulated that Insurers shall place reinsurance placements with those Cross Border Reinsurers who comply with the Eligibility Criteria stipulated under guidelines no 3. Applications/ Information sheets of Cross Border Reinsurers not compliant with the eligibility criteria shall have to be referred to the Authority, in the manner stipulated under guideline no 6, for its due approval.
The Authority has so far granted special approvals for 23 such Cross Border Reinsurers based on the submissions made by the Cross Border Reinsurers and the recommendations made by the insurers/GIC Re who had forwarded the information sheets. These approvals are valid for the F.Y 2016-17.
The details of these Cross Border Reinsurers are as under.
|
Approval No |
CBR Name |
Place |
Registration number |
|
IRDAI/NL/CBR/2016-17/001 # |
Ingosstrakh Joint Stock Insurance Company # |
Russia |
003,779 |
|
IRDAI/NL/CBR/2016-17/002 # |
AnadoluAnonim Turk SigortaSirketi # |
Istanbul |
4593/557 |
|
IRDAI/NL/CBR/2016-17/003 # |
Selecta Insurance & Reinsurance Company Ltd # |
Moscow |
1027700084499 |
|
IRDAI/NL/CBR/2016-17/004 |
Partner Reinsurance Company Limited |
Bermuda |
18617 |
|
IRDAI/NL/CBR/2016-17/005 |
Asian Reinsurance Corporation |
Thailand |
11503 |
|
IRDAI/NL/CBR/2016-17/006 |
Trust Re |
Bahrain |
11503 |
|
IRDAI/NL/CBR/2016-17/007 |
Misr Insurance Company |
Egypt |
No 1 |
|
IRDAI/NL/CBR/2016-17/008 |
Vietnam National Reinsurance Corporation |
Vietnam |
28GP/KDBH |
|
IRDAI/NL/CBR/2016-17/009 |
East Africa Reinsurance Company Ltd |
Nairobi |
IRA/03/002/01 |
|
IRDAI/NL/CBR/2016-17/010 |
Zep RE (PTA Reinsurance Co) |
Nairobi |
NA |
|
IRDAI/NL/CBR/2016-17/011 |
Royal Insurance Corporation of Bhutan Ltd |
Bhutan |
License No 1031496 |
|
IRDAI/NL/CBR/2016-17/012 |
BaoViet Insurance Corporation |
Vietnam |
45/GDPC3/KDBH |
|
IRDAI/NL/CBR/2016-17/013 |
United Overseas Insurance Co. Ltd |
Singapore |
197100152-R |
|
IRDAI/NL/CBR/2016-17/014 |
Insurance Company for Gaz Industry SOGAZ |
Russia |
027,93 |
|
IRDAI/NL/CBR/2016-17/015 |
GIC Bhutan Re |
Thimpu |
1029965 |
|
IRDAI/NL/CBR/2016-17/016 @ |
Iran Insurance Company (Bimeh Iran) @ |
Iran |
460 |
|
IRDAI/NL/CBR/2016-17/017 |
CICA Re (Kenya) |
West Africa |
NA |
|
IRDAI/NL/CBR/2016-17/018 |
Axa Insurance Singapore PTE |
Singapore |
196900406D |
|
IRDAI/NL/CBR/2016-17/019 |
Arab Insurance Group |
Bahrain |
CR 10701 |
|
IRDAI/NL/CBR/2016-17/020 # |
Trust Re # |
Labuan |
LF03571 |
|
IRDAI/NL/CBR/2016-17/021 |
Equator Reinsurances Limited |
Bermuda |
10304 |
|
IRDAI/NL/CBR/2016-17/022 # |
Arab Insurance Group # |
Labuan |
LF05662 |
|
IRDAI/NL/CBR/2016-17/023 |
Union Insurance Company |
Ajman,UAE |
14763 |
#: Reinsurance placements by Insurers/GIC Re to the CBRs indicated by # shall not exceed 5% of 100%
@: Reinsurance placements by Insurers/GIC Re to the CBRs indicated by @ shall not exceed 10% of 100%
The Filing Reference Number of the above Cross Border Reinsurers is available in the IRDAI web interface.
(P.J. Joseph)
Member (NL)
