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International

Regulator asks insurers to tread carefully when signing global reinsurance pacts

April 29, 2016 Reprints

The Insurance Regulatory and Development Authority of India has asked insurers to avoid entering into common reinsurance arrangements on global basis with foreign entities when they lack input into the pacts, reports Business Standard citing the Press Trust of India.

Some insurers have requested the regulator to exempt them from having to comply with IRDA (General Insurance-Reinsurance) Regulation 2013, citing their inability to comply with the regulations.

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Regulator asks insurers to tread carefully when signing global reinsurance pacts

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