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Regulator maintains mandatory cession rate to GIC Re at 5%


India's insurance regulator has maintained the obligatory cession rate for nonlife insurers to reinsurer General Insurance Corp. of India at 5% for the financial year ending March 31, 2020, Asia Insurance Review reported citing sources. The regulator said that government-owned GIC Re would also continue to get the first right of refusal for all reinsurance contracts.

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