Re-insurance regulatory definitions establish core risk-transfer, contractual, participant, and business-segment terminology for IFSC insurance operations. Regulation 3 defines the participants, risk-transfer mechanisms and contractual records used in re-insurance business conducted by International Financial ... Summary
International Financial Services Centres Authority Act, 2019
International Financial Services Centres Authority (Preparation and Presentation of Financial Statements of International Financial Service Centre Ins...
Re-insurance regulatory definitions establish core risk-transfer, contractual, participant, and business-segment terminology for IFSC insurance operations.
Regulation 3 defines the participants, risk-transfer mechanisms and contractual records used in re-insurance business conducted by International Financial Services Centre Insurance Offices. It covers cession, retention, retrocession, fronting, Alternate Risk Transfer and insurance pools, and defines re-insurance contracts, treaties, re-insurance slips and cover notes. Insurance business is classified into specified segments, including life, health, marine, engineering, aviation, liability and miscellaneous business. Undefined expressions adopt meanings assigned under applicable legislation and related instruments.
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