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)

Annexure “1”
Name of the Reinsurance / Composite Broking Company: …………
Return for the Financial Year: (I half-year/ II half-year) …………………….
Date of filing: ……
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 ) 

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