Permissible insurance business classes depend on approval, home-country authorisation for certain IIOs, and reinsurance-category selection on application. Regulation 10 permits an IIO registered with the Authority to undertake permissible insurance business, subject to conditions specified by the Authority. ... Summary
Permissible insurance business classes depend on approval, home-country authorisation for certain IIOs, and reinsurance-category selection on application.
Regulation 10 permits an IIO registered with the Authority to undertake permissible insurance business, subject to conditions specified by the Authority. Permitted classes are life insurance, general insurance, health insurance, and re-insurance business. An IIO operating as an Indian insurer's place of business or a foreign insurer's or re-insurer's branch is restricted to classes authorised by its home-country regulatory or supervisory authority. Applicants for DTA reinsurance must select the relevant reinsurance category at the application stage.
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