Q. Which act governs the law and regulation relating to the use of foreign exchange in insurance and reinsurance transactions in India?

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Q. According to the Foreign Exchange Management Act, can a person resident in India take any general or life insurance policy issued by an insurer outside India?

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Q. Who grants permission to GIC Re, the national reinsurer of India, for arranging remittances of foreign exchange in respect of their reinsurance arrangements?

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Q. How do insurers in India obtain permission to remit foreign exchange for their reinsurance transactions?

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Q. Which entities are permitted by the Reserve Bank of India to maintain foreign currency accounts in foreign countries for facilitating general insurance business undertaken abroad?

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Q. What type of payments can be received into foreign currency accounts by insurers in India?

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Q. Which liabilities can be paid out of foreign currency accounts by insurers in India?

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Q. Without requiring permission, which types of claims can be settled by insurers in India?

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Q. Which statements are required to be submitted periodically to the Reserve Bank of India by insurers in India?

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Q. Which statement is required to be submitted annually to the Reserve Bank of India by insurers in India?

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Q. In India, which of the following Acts governs the law and regulation relating to use of foreign exchange in respect of insurance and reinsurance transactions overseas?

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Q. What aspects is reinsurance accounting comprehensively connected with?

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Q. How is reinsurance commission typically expressed?

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Q. What is overriding commission in reinsurance?

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Q. How is the percentage of brokerage payable in reinsurance determined?

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Q. What is profit commission in reinsurance?

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Q. Which country levies a Service Tax of 5% on direct premium?

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Q. What law and regulation govern the use of foreign exchange in respect of insurance and reinsurance transactions overseas in India?

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Q. Who reviews and approves the reinsurance arrangements of the GIC Re?

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Q. Which regulatory authority grants permission to GIC Re as an authorized dealer to arrange remittances of foreign exchange for reinsurance arrangements?

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