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India's Insurance Regulatory Development Authority has issued guidelines for foreign reinsurers setting up shop in the country, Asia Insurance Review reported.
The guidelines said that foreign reinsurers are required to have minimum capital of $1 billion Indian rupees ($15.2 million) to establish a branch in the country.
The guidelines also said that foreign reinsurers looking to open a branch office should have been in the reinsurance business for at least 10 years.