Foreign exchange regulation for insurance: permitted foreign currency accounts, reinsurance remittances and conditional claim settlements under prescribed documentation. The memorandum sets exchange control rules under FEMA for general insurance covering issuance of policies, premium receipt and claims settlement in rupees or foreign currency; it permits IRDA registered and public sector insurers to decide annual reinsurance programmes (with Board approval) and allows designated authorised dealers to make remittances under those approved arrangements, subject to specified documentary requirements, residency rules, limitations on foreign currency payments, maintenance of foreign currency accounts abroad with minimal balances, and RBI approval where exceptions arise.