Obligatory cession for GIC RE reduced from 5% to 4%; know what this means for company!
IRDA has allowed general insurance companies a rebate in the condition of mandatory reinsurance from GIC RE.
The mandatory GIC RE insurance will be reduced from 5% to 4% for FY2023. Pic: https://www.irdai.gov.in/ and https://www.gicofindia.com/en/