FORM NL-33- REINSURANCE/RETROCESSION RISK CONCENTRATION | |||||||||
Name of the Insurer: General Insurance Corporation of India (GIC Re) | |||||||||
Registration No: | Date: 31.03.2022 | ||||||||
(Amount in Rs. Lakhs) | |||||||||
S.No. | Reinsurance/Retrocession Placements | No. of reinsurers | Premium ceded to reinsurers (Upto the Quarter) | Premium ceded to reinsurers / Total reinsurance premium ceded (%) | |||||
Proportional | Non-Proportional | Facultative | |||||||
Outside India | |||||||||
1 | No. of Reinsurers with rating of AAA and above | - | |||||||
2 | No. of Reinsurers with rating AA but less than AAA | 11 | 368.59 | 33,827.38 | 44,054.89 | 19.98% | |||
3 | No. of Reinsurers with rating A but less than AA | 154 | 22,125.38 | 110,808.97 | 14,379.11 | 37.61% | |||
4 | No. of Reinsurers with rating BBB but less than A | 54 | 476.93 | 48,266.82 | 9,059.38 | 14.76% | |||
5 | No. of Reinsurers with rating less than BBB | 9 | - | 7,826.37 | 39.83 | 2.01% | |||
6 | Others (outside India) | 7 | - | 1,361.47 | 280.34 | 0.42% | |||
Total (A) | 235 | 22,970.91 | 202,091.01 | 67,813.56 | |||||
With In India | |||||||||
1 | Indian Insurance Companies | 16 | 9,132.05 | 57.05 | 40,764.91 | 12.75% | |||
2 | FRBs | 8 | 963.51 | 44,874.59 | 2,987.70 | 12.47% | |||
3 | GIC Re | ||||||||
4 | Other (within India) | ||||||||
Total (B) | 24 | 10,095.56 | 44,931.64 | 43,752.61 | |||||
Grand Total (C)= (A)+(B) | 259 | 33,066.47 | 247,022.66 | 111,566.17 | 100.00% | ||||
Note:- | |||||||||
(a) The above data excludes estimation premium, Terrorism pool figures, Special arrangement with Branches & Inter branch figures which amounts to INR 43,538.08 Lakhs | |||||||||
(b)The total of Premium ceded to reinsurers (Proportional, Non-Proportional and Facultative as per the table and point (a) is consistent with all relevant NL forms; The aforementioned Business figures are matching with all relevant NL forms | |||||||||
(b) Figures are for financial year 01.04.2021 - 31.03.2022 | |||||||||
(c) S&P and equivalent ratings of other agencies are used to prepare the disclosure. | |||||||||
In case of reinsurer not rated by S&P, other agency ratings were used and equivalency was established to adjust them in the above bands. | |||||||||
(d) Category 6 - Others (outside India) includes Non -rated reinsurers, Government Reinsurers and Pools. | |||||||||
(e) Rating agencies have withdrwawn ratings of few reinsurers during the year .The premium ceded to such reinsurers is INR 5,765.07lakh. | |||||||||
Name of the Insurer: | Indian Market Terrorism Risk Insurance Pool | Date: | |||||||
Registration No: | |||||||||
(Amount in Rs. Lakhs) | |||||||||
S.No. | Reinsurance/Retrocession Placements | No. of reinsurers | Premium ceded to reinsurers (Upto the Quarter) | Premium ceded to reinsurers / Total reinsurance premium ceded (%) | |||||
Proportional | Non-Proportional | Facultative | |||||||
Outside India | |||||||||
1 | No. of Reinsurers with rating of AAA and above | ||||||||
2 | No. of Reinsurers with rating AA but less than AAA | ||||||||
3 | No. of Reinsurers with rating A but less than AA | 13 | 1,413.23 | 37.14% | |||||
4 | No. of Reinsurers with rating BBB but less than A | 4 | 81.81 | 2.15% | |||||
5 | No. of Reinsurers with rating less than BBB | 1 | 27.86 | 0.73% | |||||
Total (A) | 18 | 1,522.90 | 40.02% | ||||||
With In India | |||||||||
1 | Indian Insurance Companies | 13 | 806.84 | 21.20% | |||||
2 | FRBs | 4 | 804.50 | 21.14% | |||||
3 | GIC Re | 1 | 569.97 | 14.98% | |||||
4 | Other (to be Specified) | 2 | 42.85 | 1.13% | |||||
Not Rated Russion Reinsurer | 2 | 58.44 | 1.54% | ||||||
Total (B) | 22 | 2,282.59 | 59.98% | ||||||
Grand Total (C)= (A)+(B) | 40 | 3805.4941 | 100.00% | ||||||
Note:- (a) The total of Premium ceded to reinsurers (Proportional, Non-Proportional and Facultative is consistent with all relevant NL forms; The aforementioned Business figures are matching with all relevant NL forms. In case of difference, pl give reasons (b) Figures are to be provided upto the quarter | |||||||||