IGI Logo

Below The Reaction quote on recent IRDAI's amendments to the reinsurance regulations Mr. Sharad Mathur, MD & CEO, Universal Sompo General Insurance.

“The recent regulatory amendments by IRDAI mark a decisive stride towards positioning India as a formidable global reinsurance hub. The strategic harmonization of regulations and simplification of compliance intricacies create an environment primed for growth, while also attracting reinsurers to our nation. This transformative progression resonates harmoniously with our unwavering commitment to innovation and customer-centricity. By embracing these progressive shifts, we are poised to significantly contribute to the acceleration of the insurance sector's growth, thereby fortifying India's stance in the global reinsurance arena. The reduction in the capital levels through the overseas reinsurers will definitely increase the number of reinsurers presence in India, amplifying market diversity and enriching our reinsurance landscape. The path ahead brims with potential, and we are poised to harness this momentum to reshape the future of insurance.’”

Above views are of the author and not of the website kindly read disclaimer