General Insurance Corp. of India chairman A.K. Roy said the reinsurance cost for India Inc. has dropped by 20% for the new fiscal year, The Indian Express reported.
Mr. Roy said reinsurance prices are softening "as globally there are not many claims" and there is excess of capital in the reinsurance industry.
"We have to work harder and get into new regions to maintain our portfolio," he said.
He added "we are also examining to raise funds from international market in the form of catastrophic bond."