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Title: To All CEOs / CMDs of all Insurance / Reinsurance companies, Lloyd’s India and Foreign Reinsurance Branches
Reference No.: IRDA/RI/CIR/MISC/068/05/2018
Date: 09/05/2018
Cross Border Reinsurers (CBRs) granted approval under guideline no. 6 of
On the basis of the submissions and recommendations made by re/insurers, the Authority has granted special approval for the FY 2018-19 to the below mentioned CBRs:
| Approval No. | CBR | Place |
| IRDAI/RI/CBR/2018-19/001# | Republican Unitary Enterprise | Belarus |
| IRDAI/RI/CBR/2018-19/002# | Anadolu Anonim Turk Sigorta Sirketi | Turkey |
| IRDAI/RI/CBR/2018-19/003# | Joint Stock Company Russian National Reinsurance Company | Russia |
| IRDAI/RI/CBR/2018-19/004# | CICA Re | Kenya |
| IRDAI/RI/CBR/2018-19/005# | GIC - Bhutan Reinsurance Company Ltd. | Bhutan |
| IRDAI/RI/CBR/2018-19/006# | East Africa Reinsurance Company Ltd. | Kenya |
| IRDAI/RI/CBR/2018-19/007# | Nepal Reinsurance Company Ltd. | Nepal |
| IRDAI/RI/CBR/2018-19/008# | Zep Re (PTA Reinsurance Company) | Kenya |
| IRDAI/RI/CBR/2018-19/009# | Bao Viet Insurance Corporation | Vietnam |
| IRDAI/RI/CBR/2018-19/010# | Asian Reinsurance Corporation | Thailand |
| IRDAI/RI/CBR/2018-19/011# | Ingosstrakh Joint Stock Insurance Company | Russia |
| IRDAI/RI/CBR/2018-19/012# | FAIR Pool | Morocco |
| IRDAI/RI/CBR/2018-19/013# | HDFC International Life and Re Company Ltd. | UAE |
| IRDAI/RI/CBR/2018-19/014# | PT Reasuransi Indonesia Utama (Persero) | Indonesia |
| IRDAI/RI/CBR/2018-19/015# | PICC Reinsurance Company Ltd. | China |
| IRDAI/RI/CBR/2018-19/016# | Iran Insurance Company (Bimeh Iran) | Iran |
#: Regulation 3(11) of the IRDA (General Insurance – Reinsurance) Regulations, 2016 specifies the segment-wise % cession limits w.r.t the total reinsurance premium that may be placed with any one CBR based on its rating. Reinsurance placements by re/insurers to the CBRs indicated by # are subject to a maximum cession limit of 5%, under the said regulations.
It is advised to ensure that the information sheets along with the supporting documents in respect of the above CBRs are uploaded in the IRDAI web portal and FRNs are generated before making placements.
Suresh Mathur
(Executive Director)
