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    Question

    Why is the approval of Valueattics Reinsurance by IRDAI

    significant?
    A It is India’s first private reinsurance company, breaking GIC Re’s monopoly Correct Answer Incorrect Answer
    B It will regulate the insurance sector along with IRDAI Correct Answer Incorrect Answer
    C It is fully owned by the Government of India Correct Answer Incorrect Answer
    D It will provide direct insurance services to individuals Correct Answer Incorrect Answer
    E It will function as a subsidiary of foreign reinsurance companies Correct Answer Incorrect Answer

    Solution

    Valueattics Reinsurance is India’s first private reinsurance company, marking a significant development by ending the monopoly of GIC Re.

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