IRDAI(Re-insurance) (First Amendment) Regulations, 2022


The IRDAI on 25.11.2022 has issued the IRDAI(Re-insurance) (First Amendment) Regulations, 2022 Some of the salient features of the draft Regulations are as under:

  1. The Amended Regulations shall be applicable from 01st April 2023.
  2. The draft Reinsurance Programme has to be submitted in summary form as specified by the Authority.
  3. Submission timelines for Final Reinsurance programme to the Authority is increased from 30 days to 45 days from the commencement of Financial Year.
  4. Certification from the CEO of Insurer regarding receipt of all signed Reinsurance programme within 90 days from the start of the Financial Year.
  5. Cession limits of the cedants are proposed to be increased.

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