The reinsurance section in the life insurance segment is set to see more action in the near future, with more entities showing interest.
Reinsurance refers to an insurance company itself taking insurance, either directly or through other entities, for the risk in its own covers, to check own payouts. Till now, other than government-owned General Insurance Corporation of India (GIC Re), no other entity has branches in this country, although foreign-based reinsurers are allowed to do business here, too.
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