https://www.taxtmi.com/notifications?id=147009 Classification as a re-insurance contract requires risk transfer for the relevant accounting year and protection for the ceding insurer or retrocessionaire against negative financial effects of underlying business. In alternative risk transfer arrangements combining re-insurance and financing, separable elements are accounted for individually under the IIO's accounting standards; inseparable arrangements are treated as financial transactions, with accounting determined by substance over form. Each IIO must adopt a Board-approved segment-wise retention policy, maximise retention according to financial strength and risk quality, avoid fronting, and meet any specified minimum retention. en-us Tue, 11 Apr 2023 00:00:00 +0530 Mon, 21 Sep 2026 16:30:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=147009 Classification as a re-insurance contract requires risk transfer for the relevant accounting year and protection for the ceding insurer or retrocessionaire against negative financial effects of underlying business. In alternative risk transfer arrangements combining re-insurance and financing, separable elements are accounted for individually under the IIO's accounting standards; inseparable arrangements are treated as financial transactions, with accounting determined by substance over form. Each IIO must adopt a Board-approved segment-wise retention policy, maximise retention according to financial strength and risk quality, avoid fronting, and meet any specified minimum retention. Notifications Indian Laws Tue, 11 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/notifications?id=147009