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International

GIC Re could lose first preference in certain business segments

May 22, 2018 Reprints

Reinsurer General Insurance Corp. of India Ltd. could lose its first preference over foreign reinsurers in some business segments after the insurance regulator decided to review regulations, CNBC-TV18 reported citing sources. The regulator's reinsurance expert committee had called for the rule's removal in business segments such as aviation and marine hull. Under the current regulations, any insurer wanting to reinsure a policy has to submit it to GIC Re along with three foreign reinsurers.

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GIC Re could lose first preference in certain business segments

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