Section 33(2) in Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018
(2)In the case of reinsurance contracts, it may be agreed between the parties specifically or as part of international market practices that the registered reinsurance broker or composite broker can collect the premium and remit to the reinsurer and/or collect the claims due from the reinsurer to be passed on to the insurer. In these circumstances the money collected by the registered insurance broker shall be dealt with in the manner specified in Schedule II - Form U of these regulations.
