Circular

Ref: IRDA/RI/CIR/MISC/167/06/2020 Date: 30-06-2020

To

CEOs/CMDs of all Insurers and Exempted Insurers

Re: Allotment of Filing Reference Number (FRN) for Cross Border Reinsurers

1. On the basis of the submissions made by Cross Border Reinsurer (CBR) and recommendations of the insurers, the Authority has granted approval to the below mentioned CBR’s , who do not fulfil stipulated eligibility criteria.

2. (#) This approval is subject to the following:

a.   The approval granted is for Financial Year 2020-21

b.   Reinsurance placements by an insurer to the above stated CBR’s shall not exceed two percent (2%) of the total reinsurance premium ceded outside India;

c.   The insurer(s) shall comply with clause 6 (VIII) of the IRDAI Guidelines No. IRDAI/NL/GDL/RIN/017/01/2016 dated 19-01-2016;

This is issued as per powers vested with the Authority under Reg. 4 (2) of the IRDAI (Re-insurance) Regulations, 2018.

Suresh Mathur

Executive Director