Advertise
Resources
Member, Beacon International Group, Ltd.
Foreign reinsurers who wish to set up branches in India must at least have a stable outlook from an internationally renowned credit rating agency for the previous five years, the country's insurance regulator said.
Applicants must have a minimum net owned fund of 50 billion Indian rupees ($781.5 million) at any time, the regulator said in its draft guidelines on registration and operation of branch offices, reports Business Standard. The branch has to maintain a minimum retention of 30%-50% in the Indian reinsurance business, said the regulator.