Insurance Awareness - Reinsurance
Which of the following statements about the regulatory framework for reinsurance in India is correct as of 2026?
Which of the following statements about the regulatory framework for reinsurance in India is correct as of 2026?
hard Q9 of 15
Step-by-Step Solution
Step 1: Understand regulatory framework
IRDAI is the statutory regulator overseeing insurance and reinsurance activities in India.Step 2: Evaluate other options
Mandatory cession to GIC Re was removed; foreign reinsurers operate under regulatory restrictions; Companies Act does not solely govern reinsurance.Final Answer:
IRDAI regulates both insurance and reinsurance activities in India → Option AQuick Check:
IRDAI’s role as regulator is well established and current as of 2026.
Quick Trick: IRDAI = regulator for insurance and reinsurance.
Common Mistakes:
MISTAKES- Assuming mandatory cession still exists or ignoring IRDAI’s role.
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