India's GIC Re seeks clarity on national reinsurer' status
Posted On: Sep. 10, 2015 12:00 AM CSTGeneral 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.