Section 8 in Insurance Regulatory and Development Authority of India (Lloyd's India) Regulations, 2016
8. Requisition for registration application.
- An applicant shall make a requisition for registration application under regulation 7 for reinsurance business in any of the following:(a)Category I - wherein each syndicate shall maintain a minimum retention of 50% of the Indian reinsurance business.(b)Category - II - wherein each syndicate shall maintain a minimum retention of 30% of the Indian reinsurance business.
