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33

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY

NOTIFICATION
Hyderabad, the 11th February, 2013
Insurance Regulatory and Development Authority
(Life Insurance-Reinsurance) Regulations, 2013

F. No. lRDA/Notification/17/75/2013. In exercise o f the powers conferred by section 114A o f the Insurance
Act, 1938, read with sections 14 and 26 o f the Insurance Regulatory and Development Authority Act, 1999, the
Authority, in consultation with the Insurance Advisory Committee hereby makes the following regulations,
namely:
1.

2.

Short title and commencement.

a. These regulations may be called the Insurance Regulatory and Development Authority (Life
Insurance - Reinsurance) Regulations, 2013.
b. They shall come into force on the date o f their notification in the Official Gazette.
Definitions. In these regulations, unless the context otherwise requires:
a. Act means the Insurance Act 1938 (4 o f 1938);
b. Authority means the Insurance Regulatory and Development Authority established under
sub-section (1) o f Section 3 o f the Insurance Regulatory and Development Authority Act
1999(41 o f 1999);
c. Cedant is an insurer who enters into a reinsurance contract or a reinsurer who enters into a
retrocession contract;
d. Cession means the part o f insurance passed to a reinsurer by the insurer which issued a
policy to the original insured;
e. Fronting means a process by which a primary insurer cedes most o f or all o f the insurance
risk to a reinsurer
f. Facultative means the reinsurance o f a part or all o f a single policy in which cession is
negotiated separately and that the reinsurer and the insurer have the option o f accepting or
declining each individual submission;
g. Reinsurance contract is the legally binding document on all the parties that provide a
complete, accurate and definitive record o f all the terms and conditions and other provisions
o f the reinsurance contract.
h. Retrocession means the transaction whereby a reinsurer cedes to another insurer or
reinsurer all or part o f the reinsurance it has previously assumed;
i. Retention means the portion o f the risk which an insurer assumes for his own account.
j. Indian re-insurer means an Indian insurance company which has been granted a certificate
o f registration under sub-section (2A) o f section 3 by the Authority to carry on exclusively
the reinsurance business in India;
k. pool means any joint underwriting operation o f insurance or reinsurance in which the
participants assume a predetermined and fixed interest in all business written.
1. Treaty means a reinsurance arrangement between the insurer and the reinsurer, usually for
one year or longer, which stipulates the technical particulars and financial terms applicable to
the reinsurance o f some class or classes o f business;
m. Words and expressions used and not defined in these regulations but defined in the Insurance
Act, 1938 (4 o f 1938) or Insurance Regulatory and Development Authority Act, 1999 (41 of
1999), shall have the meanings respectively assigned to them in those Acts as the case may
be.

34

THE GAZETTE OF INDIA : EXTRAORDINARY

3.

[P art

III -Sec . 4]

Reinsurance with Indian reinsurers:

a. In accordance with Section 101 A o f the Insurance Act, 1938, every insurer shall reinsure
with Indian reinsurers such percentage o f the sum assured on each policy as may be specified
by the Authority by notification,
b. Provided that no percentage so specified shall exceed thirty percent o f the sum assured on
such policy and
c. Also different percentages may be specified for different classes o f insurance and
d. Also specify the proportions in which the said percentage shall be allocated among Indian
reinsurers.
e. For the purpose o f this regulation, an Advisory Committee shall be constituted in accordance
with the Section 10IB o f the Insurance Act, 1938 consisting o f not more than five persons
having special knowledge and experience o f life insurance business.
Procedure to be followed for reinsurance arrangements.
a. The Reinsurance Programme o f every insurer/reinsurer shall be guided by the following
objectives to:
i. Maximize retention within the country;
ii. Develop adequate capacity;
iii. Secure the best possible protection for the reinsurance costs incurred;
iv. Ensure that the reinsurance policy does not lead to fronting o f insurance business;
v. Simplify the administration o f business.
r
b. Every life insurer shall draw up a programme o f reinsurance in respect o f lives covered and
the profile o f such a programme, duly certified by the Appointed Actuary and approved by
the Board o f Director, shall be filed with the Authority, at least forty five days before the
commencement o f each financial year, by the insurer, which shall include:
i. For new insurers: their proposed reinsurance arrangements in relation to their
capitalisation, proposed classes o f business and retentions; their reinsurers and
ratings for the past five years; and control systems.
ii. For existing insurers:
1. The proposed reinsurance arrangements in relation to their capitalisation,
proposed classes o f business and retentions; their reinsurers, shares and
ratings for the past five years and
2. An annual review o f existing reinsurance arrangements, including:
a. In relation to the risk exposures for each class o f insurance
business written: Retention limits, comparison to the Regulatory
Reporting Retention Limits in Regulation 6, and the types o f cover
provided by treaties;
b. Reinsurance control systems for monitoring exposures and making
cessions and claims recoveries;
c. M ajor reinsurers, i.e. reinsurers accounting for more than 20 per
cent o f premiums ceded under any one reinsurance contract and
reinsurers accounting for more than 5 per cent o f premiums ceded
in total.
d. The name(s) o f the reinsurer(s) with whom the insurer has the
reinsurance arrangements, their shares and their rating for the past
five years.
Provided that the Authority may, if it considers necessary, elicit from the insurer any
additional information, from time to time, and the insurer shall furnish the same to the
Authority forthwith.

c.

d.

e.

The insurer shall ensure that the reinsurance arrangements in respect o f catastrophe risks,
using various realistic disaster scenario testing, are adequate and approved by the Board o f
Directors before filing the same with the Authority along-with the reinsurance programme.
The insurer shall determine the credit risk and concentration risk o f the reinsurance
arrangements and explain the measures taken to mitigate such risks, if any, in the reinsurance
programme.
The Authority shall examine the reinsurance programme, the retention policy details as in
Regulation 5 and the detailed report on regulatory reporting retention limits, if required under

[STPT I I I

'RTOT '3FTW R :

4]

f.

g.

h.

5.

Regulation 6, submitted along with the reinsurance programme to ensure, amongst others,
that the:
i. The objectives in sub-regulation 4 (a) are met;
ii. The insurers financial strength, the reinsurance policy, underwriting capacity,
volume o f the business etc are considered in arriving at the retention limits.
If the reinsurance programme o f the insurers is found to be inconsistent with the overall
objective o f this Regulation, the Authority for the purposes o f calculating solvency, may
allow a lesser credit for reinsurance in the sum-at-risk factor.
For the purpose o f (e) and (f), the Authority shall examine all the necessary justifications, the
technical & financial strength o f the insurer, all the supporting data and the reasons why such
an arrangement would be required as submitted in the reinsurance programme.
The Authority shall scrutinize such a programme o f reinsurance as above, and may suggest
changes, if it consider necessary, and the insurer shall incorporate such changes forthwith in
his programme.

Retention Policy:
a. Every insurer shall build the retention capacity within the company and formulate suitable
retention policy for each type o f product/risk on an ongoing basis and justify on an ongoing
basis such retention policy in accordance with the emerging claims experience, financial
standing, underwriting capacity etc. in the annual reinsurance programme submitted to the
Authority.
b.

The above such retention policy o f every insurer shall:

i. aim at retaining the maximum premium earned in India, maximizing the retention
across products commensurate with his financial strength & volume o f business and
ii. establish the above in the reinsurance programme as referred to in sub-regulation 4
(b).
c. Insurers may be allowed to reinsure on quota share:
i. in the initial two years o f starting operations for health insurance business and group
term insurance business and
ii. in the initial two years o f introducing a new risks/product for health insurance
business and group term insurance business
Provided the minimum retentions in all such cases shall be at least as referred in Table: 6 (1)
applicable to health insurance business and group term insurance business.
d. The Authority may require an insurer to further justify its retention policy and may give such
directions as considered necessary.

6.

Regulatory Reporting Requirements:

a. If the retention levels o f such retention policy for mortality / morbidity risks is less than the
regulatory reporting retention limits stated in Table: 6 o r the total reinsurance premium to the
total premium received under a particular product exceeds 2% for all saving products and
3 0 % for all term insurance/health products, in all such cases, the insurers shall report to the
Authority
along
with
the
reinsurance
programme for approval a detailed working for each product on:
i.
The underwriting processes;
ii. Claims fluctuations and claims experience;
iii. Current retention levels;
iv. Their financial strength;
V. Volume o f business;
vi. Capital requirements;
vii. Past claims payment history o f the reinsurers;
viii. Capacity building measures taken in terms o f building up capacity in underwriting,
claims handling, risk management, pricing, valuation, etc. since introducing the risk;
etc

35

THE GAZETTE OF INDIA : EXTRAORDINARY

36

[P art

III S e c . 4]

Table: 6
Regulatory Reporting Retention Limits
S.No
1

Age o f the insurer or year in which

the risk is introduced**
0 to 3 years both inclusive

Type o f the products or riders

Retention limit on the

sum at risk. Rs.
51akhs

Pure protection products like term

insurance, personal accident products etc
All kinds o f savings products like lOlakhs
endowment, ULIPS etc
All kinds o f group protection products
51akhs
All kinds o f health insurance products, 1lakhs
except personal accident products.
4 to 7 years both inclusive
Pure protection products like term 10 lakhs
insurance, personal accident products etc
All kinds o f savings products like 201akhs
endowment, ULIPS etc
All kinds o f group protection products
lOlakhs
All kinds o f health insurance products, 3 lakhs
except personal accident products.
8 to 11 years both inclusive
Pure protection products like term 15 lakhs
insurance, personal accident products etc
All kinds o f savings products like 301akhs
endowment, ULIPS etc
All kinds o f group protection products
15 lakhs
All kinds o f health insurance products, 3 lakhs
except personal accident products.
12 to 15 years both inclusive
Pure protection products like term 201akhs
insurance, personal accident products etc
All kinds o f savings products like 301akhs
endowment, Unit linked products etc
All kinds o f group protection products
201akhs
All kinds o f health insurance products, 41akhs
except personal accident products.
Above 15 years
The Authority may prescribe from time to time the limits for all the
four types o f products
** If the insurer is introducing the risk for the first time, in such cases the limits in # 1 would
apply irrespective o f the age o f the insurer.
i
Provided further that the Authority shall review the Regulatory Reporting Retention Limits
every two years and if necessary, may revise these limits upwards from time to time.

7.

8.

Submissions of Reinsurance Treaties:

a. All reinsurance arrangements shall be documented and filed with the Authority within 30
o f commencement o f the financial year.
b. W ithin 30 days o f the commencement o f the financial year, every insurer shall also file
the Authority a copy o f every reinsurance treaty contract in respect o f that year together
the list o f reinsurers, their ratings and their shares in the reinsurance arrangement.
Provided that any change in the terms and conditions o f the reinsurance treaty shall be
with the Authority within 15 days o f such changes.

days
with
with
filed

Placement o f Reinsurance Business:

a. Insurers shall place their reinsurance business outside India with only those reinsurers who
have over a period o f the past five years counting from the year preceding for which the
business has to be placed, enjoyed a credit rating o f at least BBB (with Standard & Poor) or
equivalent rating o f any other international rating agency.
b. Provided that placement o f business by the insurer with any other reinsurer shall be with the
prior approval o f the Authority.
c. Provided further that no programme o f reinsurance shall be on original premium basis.

[*TFT III

4]

*TR?T

W HT : 3WTWT

37

d. Provided further that no life insurer shall have reinsurance treaty arrangement with its
promoter company or its associate/group company, except on terms which are commercially
competitive in the market and with the prior approval o f the Authority, which shall be final
and binding.
e. The life insurers shall, before placing the business with the reinsurers, consider past claims
performance o f the reinsurers, as available, while accepting their participation in the
reinsurance programme.
9.

Submission of Returns:
a. Every insurer shall be required to submit to the Authority information and returns relating to
its reinsurance transactions as per Annexure 1 and in such other forms as the Authority may
require or specify from time to time
Explanation: All the life insurers shall furnish the information and returns required as per
Annexure 1:
i. In the case o f forms which are to be submitted on an annual basis, with in 45 days
from the close o f each financial year.
ii. In all other cases, within 15 days from the close o f each quarter/half-year as the case
may be.
10. Inward Reinsurance Business:
a. Every insurer wanting to write inward reinsurance business shall seek specific approval o f the
Authority providing all the business projections and all documentation as may be required for
such business.
b. Every insurer wanting to write inward reinsurance business shall have a well-defined
underwriting policy approved by its Board o f Directors for underwriting inward reinsurance
business.
c. An insurer shall file with the Authority, at least forty five days before the commencement of
each financial year, its underwriting policy stating the classes o f business, geographical scope,
underwriting limits and profit objective.
i
d. An insurer shall ensure that decisions on acceptance o f reinsurance business are made by
persons with adequate knowledge and experience, preferably in consultation with the insurers
Appointed Actuary.
e. An insurer shall also file with the Authority any changes to the underwriting policy as and
when a change is made duly approved by its Board o f Directors.
f. An insurer shall show all the receipts and payments like premiums, claims, etc. relating to
reinsurance business accepted separately from direct insurance business.
11. Repeal and Savings:
a. These Regulations repeal the Insurance Regulatory and Development Authority (Life
Insurance - Reinsurance) Regulations, 2000.
b. Unless otherwise provided by these regulations, nothing in these regulations shall deem to
invalidate the arrangements entered prior to these regulations coming into force.

J. HARI NARAYAN, Chairman

[ADVT. 111/4/161/12/Exty.]

Form N a m e

Form C ode

INPUT REINSURANCE 1
INPUT REINSURANCE 1.1

Form LR-1: List o f reinsurance tre aties fo r th e year

Sum m ary o f reinsurance tre aties during th e year
Form LR-2: Particulars o f Surplus T rea ty For th e Year

IN P U T R E IN S U R A N C E 3

Form LR-3: Result o f Surplus T rea ty fo r th e Year Ended 31st M a rc h ,..............

INPUT REINSURANCE 4

Form LR-4: Particulars o f Q uo ta Share T rea ty For th e Year

INPUT REINSURANCE 5

Form LR-5: Result o f Q uota Share surplus T rea ty fo r th e Year Ended 31st M a rc h ,..............

INPUT_REINSURANCE_6

Form LR-6: Particulars o f Excess o f Loss co ver/C atastrop h e T rea ty For th e Year

IN P U T R E IN S U R A N C E 7

Form LR-7: Result o f Excess o f Loss/catastrophe T rea ty fo r th e Year Ended 31st M a rc h ,..............

OF

IN P U T R E IN S U R A N C E 8

Form LR-8: Reinsurance Accounts fo r th e q u a rte r ended 31st M a rc h /3 0 th Ju n e /3 0 th S e p t/3 1 s t Dec

INPUT_REINSURANCE_9

D ata Uploading F orm at fo r Reinsurance Rate data

INDIA : EXTRAORDINARY

INPUT REINSURANCE 10

Details o f O utstanding Recoveries - To be furnished by th e insurer

INPUT_REINSURANCE_11

Aging data o f reinsurance recoverables

INPUT_REINSURANCE_12

Reinsurance Program Details - Inw ard

INPUT REINSURANCE 13

Reinsurance Program Details - O utw ard

S tatem ents
S ta te m e n t 1

S ta te m e n t o f Reinsurance Statistics fo r th e q u a rte r ended

S ta te m e n t 2

Reinsurance Details- Inforce

S ta te m e n t 3

Reinsurance Details- W ith d ra w a n

THE GAZETTE

IN P U T R E IN S U R A N C E 2

[P art

III Sec .

'

4]

purpose end Objective

The objective o f th e form I* to capture the information on the reinsurers, treaties and products cowered in each treaty.
This is a re-engineered form based on the existing form IR -l
The frequency o f this return is yearly.

Filters and Parameters

Year

No. o f treaties

--U-

Treaty Details
1. Reinsurer 1
2. Reinsurer 2

aI

Reinsurer Details

(Name o f Appointed Actuary)

(Name o f Principal Officer)

(Oat.)

Purpose and Objective

This form captures the summary o f the treaties done by the insurers during the year
This is a new form created based on the requirements of the departm ent.
The frequency o f this return is yearly.

Filters and Parameters

Name of Insurer

Classification

Category

'

Column Code j
1

No. o f treaties at the beginning o f year

No. o f treaties added

No. of modification

No. o f treaties terminated/suspended

No. o f treaties at the end of the year

Quota Share

Excess of Loss Cover

Treaty

Treaties

Treaty

Facultative
i f !

i
'' v. <
Catastrophe
e

j
Any Other(s)
f

'

: EXTRAORDINARY

2.i

Surplus

OF INDIA

Particulars

THE GAZETTE

Year

[P art

III
Sec . 4]

Profit Commission
a) Percentage
b) Deduction for m anagem ent expense
c) Loss carried forward provision
d) Minimum no. of fives
Reserve/Deposits
a) Basis of retention and percentage
b) M ethod of release
c) Interest Payable

H
X
Cfl
o

|v j g j

a) Notice Required
b) Restriction and Termination
c) Penalty on early term ination

List of reinsurers
Share in Treaty

Name o f reinsurer

j b

1 1

' iiiin'i)' >iii ' r

(v

w .v r.*

w -,;

1
1 .v . ' 5 1 M
| |
|
H

B H H H H IB H m

H B M

H
, | .

I 1

g
M

H HgH
H M

o
T)

1 v ,
1

Name o f Broker, if any

, V ,

' " 11 * ' 1!

2
o
>
m
X

H H H H H H B H r illiiH il

B iS H V IN Ii

32

1 1

2
>

We certify that the information furnished above is true and correct as per our records;

3
(Signature of Appointed Actuary)

(Signature of Principal Officer)

(Name o f Appointed Actuary)

(Name of Principal Officer)

M SI -E H
(Date)
Note
* Insurer needs to subm it separete LR-2 form s fo r each treaty
A ll figures / amounts ore in Rupees
Ail figures / am ounts w ill hove to be entered in absolute numbers

- 1
C/)
m
n

Purpose and Objective

The purpose of the form is to collect the business data of the reinsurance for surplus treaty
This is a rengineered form based on the existing form LR-3
The form is yearly.
Filters and Parameters
Year

Name of insurer

Treaty Name

Name of Re Insurer**

Category

Classification

N o. o f live s re in s u re d
I

R e in s u ra n c e P re m iu m

Sum R ein su re d
j

R e in s u ra n c e C laim s Paid
R e insurance
P ro fit C o m m is s io n

Cessions

'

Ex,st' nR

N e w C essions j

E xistin g C essions

! N o w Cessions

E xistin g Cessions

Current Year
First Preceding Year
Second Preceding Year
Third Preceding Year
Fourth Preceding Year
All figures / amounts are in Rupees
All figures / amounts w ill have to be entered in absolute numbers

We certify that the information furnished above is true and correct as per our records;

(Signature of Appointed Actuary)

(Signature o f Principal Officer)

(Name o f Appointed Actuary)

(Name of Principal Officer)

! C o m m is s io n ( If A n y )

N o.

THE GAZETTE OF INDIA : EXTRAORDINARY

44

Purpose and Objective

The o b je c tiv e o f th e fo rm is t o c a p tu re th e d e ta ils o f th e q u o ta share tre a tie s file d b y th e insurer
This is a re n g in e e re d fo rm based o n th e e x is tin g fo rm LR-4
T h e fre q u e n c y o f th is r e tu rn is ye a rly .

Filters and Parameters

Year

Name of insurer
Category

Classification

Name of Treaty
Ti emly Vcdi
No. of Life insurance Products Covered
Name of the products covered

lick here to add more products

Risk Excluded

Gross underwriting limit

a) Normal Risks
b) Sub Standard risks
Net Retention
a) Normal Risk
b) Sub-standard Risk
Any Surplus treaty operating on the top of the gross limits

H H

Cession Percentage

E E ]*

Treaty Limits
Rate of reinsurance premium
a) As Original ( as per original terms)
b) As per schedule (attach schedule)
Attach the relevant schedule (If applicable)
Terms of reinsurance (Including proportion)

Reinsurance Commission

Profit Commission
a) Percentage
b) Deduction for management expense
c) Loss carried forward provision
d) Minimum no. of lives
Reserve/Deposits
a) Basis of retention and percentage
b) Method of release

1 1 I I i

1 i 1 :

[P art

III S ec . 4]

[*TFT III

4]

45

c) Interest Payable

Termination
a) Notice Required

BHH
.~T as?y*mm
toCCiv+tMtfirtifti

b) Restriction and Termination

\ , r-

f~!- kuzt/au. --

c) Penalty on early termination

List of reinsurers
N a m e o f B ro k e r, if a n y

Share in T re a ty

N am e o f re in s u re r

^lOTil.W
fi>i
H HH '

m
ij i wiiiii11irnmmmmmmmssmm.

h
Ikril ..
Ik

mm

-.

HIHMIkl

- I >vt

1 g

11

Hi

v -

MHlHMMIIfeMftHHflkNIlMIINtaMHli

We certify that the Information furnished above is true and correct as per our records;

(Signature of Appointed Actuary)

(Signature of Principal Officer)

(Name of Appointed Actuary)

(Name of Principal Officer)

I o l D 1 - j M I M ! - 1 Y-I 'Y I V I Y-l

(Date)

Note
* Insurer needs to submit separete LR-4 forms for each treaty
A ll fig u r e s / amounts are in Rupees
A ll figures

/ amounts w ill have to be entered in absolute numbers

/> 3

~
'

&

fo r th e Y ear Ended

31st r '

Purpose and Objective

The purpose of the form is to collect the business data o f the reinsurance for quota share treaty
This is a rengineered form based on the existing form LR-5
The form is yearly.
Filters and Parameters
Year

Name of Insurer

Name of Treaty

Name of Re Insurer**

Classification

Category

Year

Column Code

No. o f lives reinsured

Existing
New Cessions
Cessions
a
b

Reinsurance Premium

Sum Reinsured
New Cessions

Existing Cessions

New Cessions
e

Existing Cessions
f

Reinsurance
Commission (If
. v
Any)

i Second Preceding Year

iThird Preceding Year

Fourth Preceding Year

II figures / amounts are in Rupees

II figures / amounts w ill have to be entered in absolute numbers

(Signature of Appointed Actuary)

(Signature of Principal Officer)

(Name of Appointed Actuary)

(Name of Principal Officer)

1
~

______ .
h

...... . .

Balance

: EXTRAORDINARY

/e certify that the information furnished above is true and correct as per our records;

Profit Commission

Amount

|Current Year
j First Preceding Year

Reinsurance Claims Paid

No.

THE GAZETTE OF INDIA

[P art

III S e c .
4]

SnEh III h i h ]

Purpose and Obtectfve

Theobjectiveof the fona a tocapture the detailsof thet n u of ks/ctastrophe tn
This B*
fonn basedon thef* U term IR-4
Thefrequencyof thisreturnr. yearty.
________ ________________________

[fr

FDten and Parameters

EEE3
mat risi per lf far theportfolio

! II" I M B
>

MM

I ! I I 111:

fehML

life

Hh

r-l-'-ls.-Dr-ltelivT

We certify th at th e information furnished above is true and correct as per our records;

(Sifnature of AppointedActuary)

(Senators of Madpal Officer)

(Nameof AppointedActuary)

(Ram of Principal 0*Mt

m m um
(Date)

Note
Insurer needs to submit separete Ut-6 forms tor each treaty
AHfigures/amours* art tr. Rupert
AHfamesJ<umunts
lo Jmttntteo tbsolute iw rerr*

v.-i

r a

H M H B

l - ... ;. i-^;.

m m

mm

wMM

Purpose and O bjective

The purpose o f th e fo rm is to collect the business data o f the reinsurance fo r Excess o f Loss/catastrophe Treaty
This is a rengineered form based on th e existing form LR-7
The form is yearly.
Filters and Param eters
Name of Insurer

Classification

Category

N ew Cessions
Column Code

1
2
__3

{Current Year
jFirst Preceding Year

Reinsurance Claims Paid

Reinsurance Prem ium

Year

Existing

Reinsurance Commission (If Any)

Cessions
c

Num ber

A m oun t

Balance
h = c+g-a*b

________

Second Preceding Year

Third Preceding Year

j Fourth Preceding Year

All figures / amounts are in Rupees

Ali figures / amounts w ill have to be entered in absolute numbers

We certify that the information furnished above is true and correct as per our records;

(Signature o f Principal Officer)

(Name of Appointed Actuary)

(Name of Principal Officer)

: EXTRAORDINARY

(Signature of Appointed Actuary)

THE GAZETTE OF INDIA

11 1
#

Year

(Date)

* * This form should be filled up fo r all possible combinations o f treaties and reinsurers. So in case, "Treaty 1" includes 2 different reinsurers - "Reinsurer 1" and
"Reinsurer 2", then the form will be submitted twice.

[P art

Note

III Se c . 4]

purpose of th e form is to collect th e business data of th e reinsurance for all treaties

This is a recreation of existing form LR-8. No change has been made.
The form is quarterly

. _

The

________________________________________

Year

| Q uarter

Name of insurer

| Classification f

________________________________________ j
1

Category

1Division

Sub Class

[Group

ParticAar.s

tf

'

_j

_____________________________________________1

Amount'(in Rs.OGO)
-

Column Code

\Ceded Business

_1_ Opening balance of th e account

2
2.i
2.ii
3
3.i
3Ji
3Jft
4
5
6

Deduct
Gross Reinsurance premium paid
Any other paym ent to reinsurer (Please specify)
Add
Commission received from reinsurer
Claims am ount paid by reinsurer
Any other paym ent from reinsurer (Please specify)
Closing balance of th e account
Total premium received by th e insurer during th e quarter
Total claims paid during th e quarter by th e insurer

tiiMh. life tillh

11 13

__________________________________ ____

Filters and Parameters

[fr gnis> HI M h]

&
Purpose and Objective

Accepted Business

1
2
i
ii
3
i
ii
iH
4

Opening balance of th e account

Add
Gross reinsurance premium paid by ceding companies
Any other paym ent from th e ceding companies (Please specify)
Deduct
Commission paid to ceding companies
Claims am ount paid to ceding company
Any other paym ent to ceding companies(Please specify)
Closing balance of th e account

We certify that the information furnished above is true and correct as per our records;

(Signature of Appointed Actuary)

(Signature of Principal Officer)

(Name of Appointed Actuary)

(Name of Principal Officer)

(Date)
Note
For specifying any other amount, there w ill be option to insert a new ro w fo r th e details
A ll figures / amounts are in Rupees
A i! figures / amounts w ill have to b e entered in absolute numbers

55

Purpose and Objective

The purpose o f this fo rm a t is to capture th e data on reinsurance rates fro m th e insurer.
This is a data loading fo rm a t which will be loaded by th e insurer once a year

Filters and Parameters

Quarter

Name of insurer

Classification

THE GAZETTE OF INDIA

Year

Category

Age last

N am e of
N am e of tre a ty

reinsurer

Column Code

Group

a
h b b w

r i m

m
I

1 !

B
|

H H B H H I IB H IH H IH B B B IIIflB B II
M
B

g g m

b
h b

m m

B B

B
f lf iH S

11

1 1 1

B
nn
B

.|

B
f 'it

III S ec .

All figures / amounts are in Rupees

All figures / amounts will have to be entered in absolute numbers

B B

[P art

B
B

B P fv & u
B

!?

: EXTRAORDINARY

M M

Reinsurance rate

G ender v

b irth d ay/A g e

4]

III M ]

Purpose and Objective

O

This form collects information on outstanding recoveries for the reinsurers. This form would be furnished by each insurer
This form is completely new and is created based on the requirements.
The frequency of this return is yearly

Filters and Parameters

Year
Name of insurer
Line of Business
U>lk

(Rs in Lakhs)
Excess of loss cover treaty

Facultative Placement

11b

Proportional Treaty
'
Recoverie

Recoverie
recoverie

Recovere

s at the

ng at the

s during

d during

end of the

s under

reinsurer beginning

the year

the year

year

Amount

Amount

Amount

Amount

Name of

Column Code

d=a+b-c
1

New

Recoverie

New

s
outstandi

Recoverie

Recoverie outstandi

Recoverie

recoverie

Recovere

s at the

Recoverie outstandi

ng at the

s during

d during

end of the

s under

dispute

beginning

the year

the year

year

Amount

Amount

Amount

Amount

New

Recoverie

recoverie

Recovere

s at the

ng at the

s during

d during

end of the

dispute

beginning

the year

the year

year

Amount

Amount

Amount

Amount

Amount

Amount

i=f+g-h

n=k+l-m

'

!
Recoverie,
s under
dispute
Amount 1
o

;
-

_ -

C/1

Purpose an d O b je c tiv e

This input form captures the details of reinsurance recoverables along with its aging as per different buckets
The frequency of this return is quarterly
F ilters an d P a ra m e te rs ___________________

__________________

Year

~ | Q u arter |

~j

Insurer

frre a ty T y p j

lin e o f Buj

tlassificatio|

Information on reinsurance recoveries pending from Reinsurers upto__

i >;
v 1 .
'A

Figure"5 in Crores
1-

*?'

Name and
address
of
reinsurer

l@ 9 R
HgUM
iS iltt
H IH H

mm

wm

Particular
. s of
; .
Pending Pending
Pending^
Registrati Registerin
Total
Pending
for 6
for more
for less
on
for 1 year
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than 6 months to
than 3
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1 year
years
ry
'ii>s
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h i wrs 4]

/? /- ///! ? > /

[w
<

' V

Premium Ceded

Total Premium Collected

' "

' '

!< l } ' J
) S

. ' .

/.

Outside India

'
< v.

-A..:

t T.^mojmt

..A tM v v -v V

*rror

Within fndlif

w re

Tota 1Pre mium Collected

Reinsurer

Within Ind.a

j'

Premium Ceded

...........................................................

.......................................

Outside India
......................

j
' {'
1

Commissions Received

Total

1
'

Total'
, Claims
; Received'

I I 1__

2.R.. 1 Name of the insurer/reinsure*

2.K..2 i Nature of rhk expected to reinsurer
2.H..3 Type of the treaty
2.H.4! List of the Produces)
2J..S I Retention lim it of the Cedant
2.It..6 Deductible of the Cedant
2JJ..7! Reinsurance Arrangements (Provide Oetafc)
?.li..8! Reinsurance Commissions
2.H..9! Profit Commissions
2.K.. 10 Changes in program (if any) (Provide Details)
2.H..11 j Rationale for such a change

mm
Total Premium Collected

v- ' - . v.. .

'

.v &Sb*\
\ U >'/.: '

-i y ijM f . S ij[ T*feniurt Ceded

- Wittiidflndia

Commissions fte<erved
Outside India . -, .'"'1

i I

| Amount | Amount

THE GAZETTE OF INDIA : EXTRAORDINARY

54

[P art

if
I!

jI
if

I2 5
i

11

III S ec . 4]

Statement 1

Statement of Statistics relating to the Reinsurance business for the Quarter ended

Nam e of the
Company
Nam e of the Product
A
B

Number of Policies
Gross
Reinsured

Number of Lives
Gross
Reinsured

Number of Claims Incurred

Gross
Reinsured

Number of Claims Settled

Gross
Reinsured

Number of Claims Outstanding

Gross
Reinsured

C
D

STATEMENT 2

S.No

Name of
the
product

UIN

Linked/
nonlinked with profits/
withoutprofits
/VIP

CY

|CY-1

|CY-2

Total risk premium in the gross premium Total premium ceded

CY
|CY-1
[CY-2
CY
|CY-1
ICY-2

Profit commission or any other

CY
|CY-1
I CY-2

Individual Date of
/ groups launch

Gross premium as a percenta ;je of total

CY-2
CY
|CY-1

Minimum Maximum Average SA

a
|c y - i
SA
SA

|CY-2

Risk premium/mortality/
CY
|CY-1
| CY-2

Total risk premium or mortality / Total reinsurance premium as a

CY
|CY-1
|CY-2
CY
|CY-1
| CY-2

The above statement is to be separately furnished for endowment / whole life / money back / health / pension/ term others

Type of
Reinsuran Reinsuran Method of Retention limits
|CY-1
ce ceded ce
reinsurance CY

Reinsurance premium as a
CY
|CY-1
| CY-2

Comment co m m e n ts Remarks of
of AA on the AA, if
s of the

| highest limit

Retention
limit
applicable

Reinsurance premium as a percentage First year reinsurance commission. Subsequent years reinsurance
CY
|CY-1
| CY-2
CY
|CY-1
| CY-2
a
|CY-1
ICY-2

STATEMENT 3

S.No

Name of
the
product

UIN

Linked/
non linked with profits/
/VIP
withoutprofits

Individual Date of
/ groups
launch

Minimum Maximum Average SA

CY
|CY-1
SA
SA

Total gross premium

CY
|CY-1
|CY-2

Total risk premium in the gross premium Total premium ceded

CY
(CY-1
|CY-2
CY
|CY-1
[CY-2

Profit commission or any other

CY
|CY-1
|CY-2

Gross premium as a percenta je o f total

CY
|CY-1
CY-2

|CY-2

Risk prem ium /m ortality/

CY
[CY-1
[CY-2

Total risk premium or mortality / Total reinsurance premium as a

CY
|CY-1
CY
[CY-1
|CY-2
,

........

Type of
Reinsuran Reinsuran Method of Retention limits
|CY-1
ce ceded ce
reinsurance CY

Reinsurance premium as a
CY
|CY-1
| cy-2

(highest limit

Retention
limit
applicable

Reinsurance premium as a percentage [First year reinsurance commission. Subsequent years reinsurance
CY
|CY-1
;CY-2-
jCY
|CY-1
\C<-1
CY
|CT-1
|CY-2

H
X
m
o
>
N
CD
H
H

tn

Comment commentsjRemarks of
s of the
of AA on |the AA, if

O
'TJ

The above statement is to be separately furnished fo r endowment / whole life / money back / health / pension/ term others

tn
X

l>rlnted by the M anager, G overnm ent o f India Press R in a o n J

v7~
--------------------------- -w
d m- . j t
ress. King Road, M ayapuri, N ew D elhi-110064
Published by the Controller o f Publications, D elhi-110054.

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