There is no room for a reinsurer to pass on the risk: Munich Re India CEO

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

Munich Re is the largest foreign reinsurer in India. Of the current Rs 65,000-crore reinsurance business in India, this company has the largest presence in the market after state-owned GIC. In conversation with Subhomoy Bhattacharjee, its Chief Executive Officer of the India branch Hitesh Kotak says the JV model cannot take care of the capital requirements needed for running a reinsurance business. Edited excerpts:

How is the Indian reinsurance market looking right now? 

In 2017, we got permission to set up a full-fledged branch in India. This option was better than the joint venture (JV) model we were restricted to. The