To,
Principal Officers of Reinsurance and Composite lnsurance Brokers
Ref: IRDA/BRK/CIR/NOT/243/12/2016
Date: 03-02-2017
Filing of Returns for Foreign to Foreign Reinsurance Transactions
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.
The Authority is of the view that such transactions may have a bearing on the servicing of the India policyholders. Therefore, the Authority advises the reinsurance/ Composite Insurance Broking Companies to file a return with the Authority in the format enclosed
The return shall be submitted within 45 days of end of the half-year in the attached format beginning from the financial year 2016-17.
P.J. Joseph
Member (Non-Life)
S. No |
Nature of Transaction |
Unique Transaction ID/ cover note no. |
Underwriting year |
Date of reinsurance transaction |
Premium Receipt No. |
Remittance Date |
Name of the Reinsured & Country |
Name of Reinsurer & Country |
Reinsurance Premium Amount (in Foreign Currency ) |
Reinsurance Commission Earned (in Foreign Currency ) |
Remarks |
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