Reinsurance

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Jio Financial Services Ltd (JFSL) on Tuesday said the company and Allianz of Germany have incorporated a joint venture company named 'Allianz Jio Reinsurance Ltd' (AJRL) to carry on the business of reinsurance in India. The company AJRL will invest an amount of Rs 2.50 lakh towards initial subscription of 25,000 equity shares of face value Rs 10 each for 50 per cent stake, JFSL said in a regulatory approval. AJRL has been incorporated pursuant to receipt of no objection certificate from Insurance Regulatory and Development Authority of India, it said. The Certificate of Incorporation was received from the Ministry of Corporate Affairs, by email, on September 8, 2025, it added. Both the companies on July 18, had announced a binding agreement to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth insurance market in India. The announcement comes months after Allianz parted ways with Bajaj group financial services firm Bajaj Finserv. The reinsurance

Last year, the reinsurance rates saw a marginal increase of around 5 per cent after adjusting for risk

Globally, the reinsurance contracts between primary insurers and reinsurers are renewed in January

The proposed guidelines given in an exposure draft will be applicable for all the reinsurance placements with CBRs by cedants or insurers from India

Primary insurers transfer a portion of their risk portfolios to reinsurers by paying a certain premium to reduce the likelihood of paying a large obligation in the form of a claim

Move aimed at improving ease of doing business; reinsurers must first meet regulator's criteria for obtaining renewal, which would be available FY24 onwards

Any retrocession up to 20%, to the branch of a foreign insurer shall be adjusted against the required minimum retention of 50%

Seeks to revise order of preference while placing reinsurance business

The terms for reference for the task force include issues discussed by the industry players with Irdai in the recently concluded bi-monthly meeting with the top honchos of the general insurance firms

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To combat tighter underwriting standards, consult a distributor that could point you towards an insurer that covers people with your profile

Reinsurance rates hiked by upto 40%; Premiums may increase by 30%

'A reinsurer is the last end of the chain in the insurance business', said Hitesh Kotak

Government shareholding and preferential regulation have skewed the reinsurer's efficiency and, by extension, that of the non-life insurance industry's too

Indian companies have to take on a high commitment to shoulder the loss (stop loss) or else pay a high reinsurance premium

The impact of increase in premiums for individual insurers will be different, depending on the kind of risk they are participating in

The firm is currently in discussions with intermediaries to launch the product by January 2020

Many are reluctant to invest financial and human capital in a scenario in which GIC Re enjoys the advantage of right of first refusal in reinsurance contracts

French reinsurer Scor Group said it will establish a branch office as soon as it receives R3 authorisation