Insurance Regulatory and Development Authority of India
Circular Ref: IRDAI/REIN/CIR/RT/1/1/2023 Dated: 3rd January,2023
To,
The CEOs of Life Insurers
Sub: Submission of Reinsurance Returns
This has reference to the circular on submission of Reinsurance Returns and Programme vide ref no. IRDA/RI/CIR/MISC/01 1/01/2019 dated 15th January,2019. On comprehensively examining the extant returns being submitted, the following returns are hereby dispensed with immediate effect.
1. Form 1.1: Summary of reinsurance treaties, submitted on yearly basis.
2. Form LR-2: Particulars of Surplus Treaty, submitted on yearly basis.
3. Form LR-4: Particulars of Quota Share Treaty, submitted on yearly basis.
4. Form LR-6: Particulars of Excess of Loss cover/Catastrophe Treaty, submitted on yearly basis.
5. Form LR-9: Data Uploading Format for Reinsurance Rate data, submitted on yearly basis.
6. Statement 1: Statement of Reinsurance Statistics, submitted on quarterly basis.
7. Statement 2: Reinsurance Details- Inforce, submitted on yearly basis.
8. Statement 3: Reinsurance Details- Withdrawn, submitted on yearly basis. Life insurers are advised to continue filing the remaining returns in the existing formats to reinsurance department till further instructions.
(A Ramana Rao)
Chief General Manager – Reinsurance
Very well sumarized.
However can you please elaborate how transaction 4 will be on RCM as notification 5/22 relates only to residential dwellings.
Kindly refer to my new article as on 25th December, 2022 Link for the same is:
https://taxguru.in/company-law/rcm-applicability-residential-dwelling-gst.html
Summarized in a good way
Well done! Kudos !
Thanks Rashi ji