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Title: To Principal Officers of Reinsurance and Composite lnsurance Brokers
Reference No.: IRDA/BRK/CIR/NOT/243/12/2016
Date: 03/02/2017
Filing of Returns for Foreign to Foreign Reinsurance Transactions, Feb 2017
It has been brought to the notice of the Authority that Reinsurance/Composite brokers undertake reinsurance transactionbetween entities that are domiciled in foreign jurisdictions.
The Authority is of the view that such transactions may have a bearing on the servicing of the India policyholders. Therefore, the Authority advises the reinsurance/ Composite Insurance Broking Companies to file a return with the Authority in the format enclosed
The return shall be submitted within 45 days of end of the half-year in the attached format beginning from the financial year 2016-17.
P.J. Joseph
Member (Non-Life)
Annexure “1”
Name of the Reinsurance / Composite Broking Company: …………
Return for the Financial Year: (I half-year/ II half-year) …………………….
Date of filing: ……
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S. No
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Nature of Transaction
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Unique Transaction ID/ cover note no.
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Underwriting year
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Date of reinsurance transaction
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Premium Receipt No.
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Remittance Date
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Name of the Reinsured & Country
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Name of Reinsurer& Country
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Reinsurance Premium Amount (in Foreign Currency )
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Reinsurance Commission Earned (in Foreign Currency )
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Remarks
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