Insurance intermediary capital and net-worth thresholds distinguish general requirements from IFSC branch requirements across regulated intermediary categories. Minimum capital and net-worth thresholds apply to insurance intermediaries, with separate standards for IFSC branches. Direct insurance brokers require ... Summary
Insurance intermediary capital and net-worth thresholds distinguish general requirements from IFSC branch requirements across regulated intermediary categories.
Minimum capital and net-worth thresholds apply to insurance intermediaries, with separate standards for IFSC branches. Direct insurance brokers require capital of USD 100,000 and net worth of USD 80,000, while reinsurance and composite brokers must maintain net worth equal to 60 percent of their applicable minimum capital. Corporate agents and third-party administrators have specified capital and net-worth requirements, whereas surveyors and loss assessors have none. IFSC branch registrations prescribe reduced capital thresholds for direct, reinsurance and composite brokers, corporate agents, and third-party administrators, without branch-specific net-worth thresholds.
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