Section 11 in Insurance Regulatory and Development Authority of India (Lloyd's India) Regulations, 2016
11.
Every requisition for registration application shall be accompanied by:(a)a certified copy of the charter and bye-laws under the Lloyd's Act, 1982 which details the manner of formation and conduct of its business;(b)the name, position, address and the occupation of the person proposed to be in-charge of the operations in India;(c)a statement indicating infusion of the assigned capital as may be specified by the Authority from time to time;(d)a certified copy of the annual report of applicant for the last five years preceding the year of filing of requisition of registration application(e)copy of the certificate from the home country regulator that the applicant has the necessary permissions to open Lloyd's India.(f)a letter of comfort from Lloyd's that it shall meet claims against members of Lloyd's underwriting reinsurance through a Service Company in Lloyd's India and that the holder of reinsurance policy issued by a member of Lloyd's under these regulations shall have recourse to Lloyd's Chain of Security, including the Central Fund at all times.(g)any other requirement that may be specified by the Authority from time to time.
