India: Reinsurance

In our previous article on Managing General Agents (“MGAs”) in India, which can be accessed here, we noted that the statutory recognition of MGAs under the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act 2025 (“2025 Amendment”) raised important questions for the GIFT City framework.

The IRDAI had issued an exposure draft on "Guidelines on Collateralized reinsurance transactions for placement of reinsurance business with CBR" on 20 February 2024 ("Draft Guidelines")...

The Indian insurance sector has witnessed significant developments over the past couple of years. By way of the Insurance Laws (Amendment) Act 2015, establishment up of branch offices of foreign reinsurers was permitted.