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Global Indian Reinsurer: IRDAI regulates & promotes insurance industry in India
Global Indian Reinsurer: IRDAI regulates & promotes insurance industry in India
Source: Moneycontrol Nov 29, 2017
India’s economic landscape has witnessed an astounding transformation over the last century. One sector that has also been a part of India’s transformation journey is reinsurance. Reinsurance has always been a crucial domain in insurance sector that needs global support in terms of functioning considering the number of disasters India has encountered off late, adequate financial support is required in managing the volume of risks. As a part of the process of liberalisation of the insurance industry in India, the Insurance Regulatory and Development Authority of India (IRDAI) was given the authority of regulating and controlling the conduct of insurance business in India.
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