Question

What is the limit for placing surplus over and above domestic reinsurance arrangements with any one reinsurer, as per the IRDA (General Insurance – Reinsurance Regulations) 2000?

a.

5% of the total reinsurance premium ceded outside India.

b.

10% of the total reinsurance premium ceded outside India.

c.

15% of the total reinsurance premium ceded outside India.

d.

No limit is specified.

Answer: (b).10% of the total reinsurance premium ceded outside India. Explanation:Surplus over and above the domestic reinsurance arrangements class-wise can be placed by the insurer independently with any reinsurer complying with the specified rating criteria, subject to a limit of 10% of the total reinsurance premium ceded outside India being placed with any one reinsurer.

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Q. What is the limit for placing surplus over and above domestic reinsurance arrangements with any one reinsurer, as per the IRDA (General Insurance – Reinsurance Regulations) 2000?

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