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ARTICLE · 22 APRIL 2024

Collateralized Reinsurance In India: Draft Guidelines

Tuli & Co
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The Indian insurance sector has seen significant changes in recent years, driven by a number of varied regulatory reforms aimed at enhancing business ease as well as increasing insurance penetration in India.

IndiaInsurance
Anuj Bahukhandi
Anuj Bahukhandi
Priti Singh
Priti Singh
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Introduction

The Indian insurance sector has seen significant changes in recent years, driven by a number of varied regulatory reforms aimed at enhancing business ease as well as increasing insurance penetration in India. The Indian insurance sector has also witnessed a steady growth in recent years, with Indian Insurance Companies underwriting more risks every year1. To manage these underwritten risks, Insurance Companies typically cede a portion of the risk to reinsurers, which include the Indian Reinsurer (ie, GIC Re), branches of foreign reinsurers ("FRBs"), International Financial Service Centre Insurance Offices ("IIOs") as well as overseas reinsurers registered with the IRDAI as Cross Border Reinsurers ("CBRs").

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