Insurance Regulatory and Development Authority of India

Circular

Ref: IRDA/RI/CIR/MISC/97/04/2020

Date: 22-04-2020

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.

Sr. No. FRN Name of CBR # Country
1 CBR00830268/202021 Bao Viet Insurance Corporation Vietnam
2 CBR00330269/202021 Kenya Reinsurance Corporation Ltd. Kenya
3 CBR00330270/202021 CICA Re Kenya
4 CBR00740271/202021 FAIR Non – Life Reinsurance Pool Turkey
5 CBR00060272/202021 Republican Unitary Enterprise – “Belarusian National Reinsurance Organisation” Belarus
6 CBR00900273/202021 Royal Insurance Corporation of Bhutan Ltd. Bhutan
7 CBR00590274/202021 Insurance Company of GAZ Industry (SOGAZ) Russia
8 CBR00900276/202021 GIC-Bhutan Reinsurance Co. Ltd. Bhutan
9 CBR00740275/202021 Sompo Sigorta A.S Turkey

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 

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