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International

India's GIC Re seeks clarity on national reinsurer' status

September 10, 2015 Reprints

General Insurance Corporation of India has sought clarity on its status as "national reinsurer" after the entry of new domestic players into the market, reported Business Standard.

Currently, GIC Re receives 5% mandatory cession from nonlife insurers. It is not clear what the future of mandatory risk ceding would be once new players enter the reinsurance space, senior officials said.

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India's GIC Re seeks clarity on national reinsurer' status

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