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