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T.S. Vijayan, chairman of India's Insurance Regulatory Development Authority, said that around "seven to eight global and domestic reinsurance players have shown interest so far in a license to begin operations in the country," reported Asia Insurance Review.
The regulator would come up with guidelines for reinsurers by October, said Mr. Vijayan, adding that regulations for Lloyd's of London would then follow.
The regulator will also provide clarity on guidelines related to management control for insurers by December, said Mr. Vijayan.