Question

In the case of an insurer solely engaged in re-insurance business, what is considered for calculating the renewal fee?

a.

Total gross premium written direct in India

b.

Total premium in respect of facultative re-insurance accepted in India

c.

Total gross premium written globally

d.

Total premium written for linked insurance products

Posted under IC 14 Regulations of Insurance Business

Answer: (b).Total premium in respect of facultative re-insurance accepted in India Explanation:In the case of an insurer solely engaged in re-insurance business, the renewal fee is calculated based on the total premium in respect of facultative re-insurance accepted by the insurer in India.

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Q. In the case of an insurer solely engaged in re-insurance business, what is considered for calculating the renewal fee?
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