It has been brought to the notice of the Authority that Reinsurance/Composite brokers undertake reinsurance transaction between entities that are domiciled in foreign jurisdictions.
The Authority is of the view that such transactions may have a bearing on the servicing of the India policyholders. Therefore, the Authority advises the reinsurance/ Composite Insurance Broking Companies to file a return with the Authority.
The return shall be submitted within 45 days of end of the half-year in the attached format beginning from the financial year 2016-17.
