<h1>IRDAI Grants Registration to Seven Foreign Re-insurers, Expanding India's Reinsurance Market Under the Insurance Laws Amendment Act, 2015.</h1> The Insurance Regulatory and Development Authority of India (IRDAI) has granted Certificates of Registration to seven foreign re-insurers to establish branches in India, including companies from Germany, Switzerland, France, Canada, and the UK. This move follows the Insurance Laws (Amendment) Act, 2015, which permits foreign re-insurers to operate in India. Currently, GIC Re is the only fully operational re-insurer in the country. Additionally, IRDAI has registered ITI Reinsurance Ltd. for reinsurance activities. The government has no current plans to reduce taxes on petrol and diesel, as stated by a government official in the Lok Sabha.