Question
Following the decision by the Insurance Regulatory and
Development Authority of India (IRDAI), what is the revised minimum capital requirement for Foreign Reinsurance Business (FRBs)?Solution
The Insurance Regulatory and Development Authority of India (IRDAI) has chosen to lower the minimum capital requirement for Foreign Reinsurance Business (FRBs) to Rs 50 crore from Rs 100 crore. This amendment is among other revisions in the reinsurance segment aimed at positioning India as a global insurance hub.
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Definition of 2NF
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