Regulator maintains mandatory cession rate to GIC Re at 5%
Posted On: Apr. 12, 2019 6:20 AM CSTIndia'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.