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रीसेट Document Detail
Title: आदेश
Reference No.: आईआरडीए/एनएल/ओआरडी/आरआईएन/111/05/2017
Date: 05/05/2017
पुनर्बीमा विशेषज्ञ समिति का गठन
The Insurance Regulatory and Development Authority of India (IRDAI) has notified various Regulations, Guidelines, Circulars over the years, pertaining to Reinsurance Business. The enactment of Insurance Laws (Amendment) Act, 2015 has brought about changes in the Reinsurance market in India by facilitating the entry of Foreign Reinsurance Branches (FRBs) and Lloyd’s India Branch, Lloyd’s Syndicates & Service Companies. Insurance Offices in IFSC (SEZ) have also been set up. In view of these developments it has been decided to carry out a comprehensive review of the existing framework for reinsurance activities including reporting requirements for the various entities. Consequently, the Authority hereby sets up a Reinsurance Expert Committee with the following constitution (Part I). The Terms of Reference of the Committee are specified thereafter (under Part II).
I. Constitution of the Committee:
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Name
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Organization
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Position in the Committee
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1
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Mr. M Ramaprasad
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Ex-Member, IRDAI
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Chairman
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2
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Mr. Yogesh Lohiya
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Independent Expert
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Member
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|
3
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Mr. K Ramachandran
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Independent Expert
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Member
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4
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Mr. Shankar Garigiparthy
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CEO, Lloyd’s India
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Member
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5
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Mr. Venkatesh Chakravarty
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CEO, Gen Re, India
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Member
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6
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Mr. Sanjay Datta
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Chief - Underwriting, Reinsurance & Claims, ICICI Lombard GICL
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Member
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7
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Mr. Segar Sampathkumar
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GM & Director, GIC Re
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Member
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8
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Ms. Tajinder Mukherjee
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GM, The New India Assurance Co. Ltd.
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Member
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9
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Ms. Madhuri Kulkarni
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Executive Director, Actuarial, LIC of India
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Member
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10
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Mr. K S Gopalakrishnan
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MD & CEO, Aegon Life Insurance Co. Ltd.
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Member
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11
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Ms. Madhu Damle
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MD, International Reinsurance & Insurance Consultancy And Broking Services Private Limited (IRICBS)
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Member
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12
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Secretary General
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GI Council
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Member
|
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13
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Secretary General
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LI Council
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Member
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14
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Ms. Mamta Suri
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CGM, IRDAI -F&A
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Member
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15
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Ms. Yegnapriya Bharath
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CGM, IRDAI - Non-Life
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Member
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16
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Mr. S P Chakraborty
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GM, IRDAI - Actuarial
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Member
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17
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Mr. N M Behera
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DGM, IRDAI - Non-Life
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Convenor
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II. Terms of Reference of the Committee:
1. Review the current regulatory framework for Reinsurance and make suitable recommendations.
2. Study international regulatory framework and practices relating to Reinsurance Pools, Alternative Risk Transfer (ART) and such other mechanisms and make appropriate recommendations for India.
3. Study the existing guidelines for SEZ and make necessary recommendations in the context of various Reinsurance activities.
4. Make specific recommendations and devise formats for reports and returns required to be submitted to IRDAI.
The Committee would be expected to interact with all relevant stakeholders —Cedants, Reinsurers, Retrocessionaires, Brokers, Customers etc. before arriving at its recommendations. It may form sub-committees if required, to work on and deliver on the ToR.
III. Submission of Report and Recommendations:
The Committee shall finalize and submit its report to the undersigned on or before 31st August, 2017. The Committee may meet at its convenience and as often as necessary to carry out its deliberations. Travelling allowances and sitting fees will be payable to the Chairman and Members as per the rules of the Authority.
P.J.Joseph
Member (Non-life)
