FORM NL-23

Reinsurance Risk Concentration

 

Insurer General Insurance Corporation Of India

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme - Agriculture RI

 

(₹ In Lakhs)

  

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

0

     

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

4

 

 652.90

 

1.79%

 

3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

41

 8,402.63

 22,098.08

 

83.74%

 

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

7

 

 3,267.32

 

8.97%

 

5

Reinsurer's with rating less than BBB

3

 

 172.64

 

0.47%

 

6

Govt. Companies (Domestic & Foreign)

6

 

 1,829.89

 

5.02%

 

7

Pools

      

8

Other Domestic Cos. (Pvt. Domestic Cos.)

      
 

Total

61

 8,402.63

 28,020.84

 

100.00%

 

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

      

(Premium information is extracted from system)

       
        

Periodic Disclosures

 

FORM NL-23

Reinsurance Risk Concentration

  

Insurer

General Insurance Corporation Of India

 

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme - Aviation

(₹ In Lakhs)

  

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

      

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

1

 

14.01

 

0.54%

 

3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

23

 

2268.11

 

87.34%

 

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

4

 

115.96

 

4.47%

 

5

Reinsurer's with rating less than BBB

3

 

43.73

 

1.68%

 

6

Govt. Companies (Domestic & Foreign)

2

126.44

  

4.87%

 

7

Pools

1

 

28.58

 

1.10%

 

8

Other Domestic Cos. (Pvt. Domestic Cos.)

      
 

Total

34

126.44

2470.39

 

100.00%

 

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

       

(Premium information is extracted from system)

       
        

Periodic Disclosures

 

FORM NL-23

Reinsurance Risk Concentration

  

Insurer

General Insurance Corporation Of India

 

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme -  Credit Re

(₹ In Lakhs)

  

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

 

NIL

  

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

   

3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

   

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

   

5

Reinsurer's with rating less than BBB

   

6

Govt. Companies (Domestic & Foreign)

   

7

Pools

   

8

Other Domestic Cos. (Pvt. Domestic Cos.)

   
 

Total

  

 -

   

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

       

(Premium information is extracted from system)

       
        

Periodic Disclosures

 

FORM NL-23

Reinsurance Risk Concentration

  

Insurer

General Insurance Corporation Of India

 

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme -  Energy

(₹ In Lakhs)

  

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

 

NIL

  

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

   

3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

   

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

   

5

Reinsurer's with rating less than BBB

   

6

Govt. Companies (Domestic & Foreign)

   

7

Pools

   

8

Other Domestic Cos. (Pvt. Domestic Cos.)

   
 

Total

  

 -

   

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

       

(Premium information is extracted from system)

       
        

Periodic Disclosures

 

FORM NL-23

Reinsurance Risk Concentration

  

Insurer

General Insurance Corporation Of India

 

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme - Engineering

(₹ In Lakhs)

  

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

 

 -

 -

 -

  

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

3

 -

 -

 129.23

2.70%

 

3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

6

 -

 -

 1,320.68

27.62%

 

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

 

 -

 -

 -

  

5

Reinsurer's with rating less than BBB

2

 529.34

 -

 -

11.07%

 

6

Govt. Companies (Domestic & Foreign)

3

 -

 -

 585.07

12.23%

 

7

Pools

 

 -

 -

 -

  

8

Other Domestic Cos. (Pvt. Domestic Cos.)

8

  

 2,217.67

46.38%

 
 

Total

22

 529.34

 -

 4,252.65

100.00%

 

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

       

(Premium information is extracted from system)

       
        

Periodic Disclosures

 

FORM NL-23

Reinsurance Risk Concentration

  

Insurer

General Insurance Corporation Of India

 

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme - Fire Domestic

(₹ In Lakhs)

  

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

 

 NIL

  

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

   

3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

   

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

   

5

Reinsurer's with rating less than BBB

   

6

Govt. Companies (Domestic & Foreign)

   

7

Pools

   

8

Other Domestic Cos. (Pvt. Domestic Cos.)

   
 

Total

0

#DIV/0!

 

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

       

(Premium information is extracted from system)

       
        

Periodic Disclosures

 

FORM NL-23

Reinsurance Risk Concentration

  

Insurer

General Insurance Corporation Of India

 

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme - Health

(₹ In Lakhs)

  

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

 

 NIL

  

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

   

3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

   

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

   

5

Reinsurer's with rating less than BBB

   

6

Govt. Companies (Domestic & Foreign)

   

7

Pools

   

8

Other Domestic Cos. (Pvt. Domestic Cos.)

   
 

Total

   

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

       

(Premium information is extracted from system)

       
        

Periodic Disclosures

 

FORM NL-23

Reinsurance Risk Concentration

  

Insurer

General Insurance Corporation Of India

 

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme - Liability

(₹ In Lakhs)

   

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

 Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

 

NIL

  

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

   

3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

   

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

   

5

Reinsurer's with rating less than BBB

   

6

Govt. Companies (Domestic & Foreign)

   

7

Pools

   

8

Other Domestic Cos. (Pvt. Domestic Cos.)

   
 

Total

   

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

       

(Premium information is extracted from system)

       
        

Periodic Disclosures

 

FORM NL-23

Reinsurance Risk Concentration

  

Insurer

General Insurance Corporation Of India

 

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme - Life Re - Proportional

(₹ In Lakhs)

  

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

      

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

      

3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

1

659.58

  

50%

 

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

      

5

Reinsurer's with rating less than BBB

      

6

Govt. Companies (Domestic & Foreign)

      

7

Pools

      

8

Other Domestic Cos. (Pvt. Domestic Cos.)

      
 

Total

1

659.58

    

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

      

(Premium information is extracted from system)

       
        

FORM NL-23

Reinsurance Risk Concentration

  

Insurer

General Insurance Corporation Of India

 

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme - Marine Cargo and Hull

(₹ In Lakhs)

  

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

 Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

 

NIL

  

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

   

3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

   

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

   

5

Reinsurer's with rating less than BBB

   

6

Govt. Companies (Domestic & Foreign)

   

7

Pools

   

8

Other Domestic Cos. (Pvt. Domestic Cos.)

   
 

Total

   

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

       

(Premium information is extracted from system)

       
        

Periodic Disclosures

 

FORM NL-23

Reinsurance Risk Concentration

  

Insurer

General Insurance Corporation Of India

 

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme - Miscellaneous

(₹ In Lakhs)

  

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

 

NIL

  

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

   

3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

   

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

   

5

Reinsurer's with rating less than BBB

   

6

Govt. Companies (Domestic & Foreign)

   

7

Pools

   

8

Other Domestic Cos. (Pvt. Domestic Cos.)

   
 

Total

   

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

       

(Premium information is extracted from system)

       
        

Periodic Disclosures

 

FORM NL-23

Reinsurance Risk Concentration

  

Insurer

General Insurance Corporation Of India

 

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme - Domestic Non-marine Risk cum CAT XOL (Excl. spec Retro)

(₹ In Lakhs)

  

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

 

 

 -

 

  

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

5

 

 1,579.50

 

37.38%

 

3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

61

 

 2,076.85

 

49.15%

 

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

24

 

 447.30

 

10.59%

 

5

Reinsurer's with rating less than BBB

5

 

 76.61

 

1.81%

 

6

Govt. Companies (Domestic & Foreign)

4

 

 25.64

 

0.61%

 

7

Pools

1

 

 19.41

 

0.46%

 

8

Other Domestic Cos. (Pvt. Domestic Cos.)

 

 

 -

 

  
 

Total

100

 

 4,225.31

 

100.00%

 

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

       

(Premium information is extracted from system)

       
        

Periodic Disclosures

 

FORM NL-23

Reinsurance Risk Concentration

  

Insurer

General Insurance Corporation Of India

 

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme - Non Marine Foreign Programme

(₹ In Lakhs)

  

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

      

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

2

 

5274.03

 

32.12%

 

3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

33

 

9077.43

 

55.28%

 

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

11

 

1418.94

 

8.64%

 

5

Reinsurer's with rating less than BBB

4

 

429.90

 

2.62%

 

6

Govt. Companies (Domestic & Foreign)

4

 

219.38

 

1.34%

 

7

Pools

      

8

Other Domestic Cos. (Pvt. Domestic Cos.)

      
 

Total

54

 

 16,419.68

 

100.00%

 

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

       

(Premium information is extracted from system)

       
        

FORM NL-23

Reinsurance Risk Concentration

  

Insurer

General Insurance Corporation Of India

 

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme - Nuclear Pool

(₹ In Lakhs)

  

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

 

NIL

  

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

   

3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

   

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

   

5

Reinsurer's with rating less than BBB

   

6

Govt. Companies (Domestic & Foreign)

   

7

Pools

   

8

Other Domestic Cos. (Pvt. Domestic Cos.)

   
 

Total

   

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

       

(Premium information is extracted from system)

       
        
        

FORM NL-23

Reinsurance Risk Concentration

  

Insurer

General Insurance Corporation Of India

 

Date- 01.01.2021  to 31.03.2021

 

Name of the RI Programme - Property Foreign

[ GIC Synd 1947 International retro (57628) & Hannover K Quota (42736)

NIA syndney(45014), ASR MGA Retro(58776)]

(₹ In Lakhs)

  

S.No

Reinsurance Placement

No. of Reinsurers

Premium Ceded to Reinsurers (INR Lakhs)

Premium Ceded to Reinsurers (%)

 

Proportional

Non-Proportional

Facultative

 

1

Reinsurer's with rating of AAA

      

2

Reinsurer's with rating of AA but less than AAA (ie. all RI's with rating AA+ and AA)

      

*3

Reinsurer's with rating of A but less than AA (ie. all RI's with rating AA-, A+ and A)

1

 3,117.52

  

20.00%

 

4

Reinsurers with rating BBB but less than A (ie. all RI's with rating A-, BBB+ and BBB)

1

 (26.14)

  

15.00%

 

5

Reinsurer's with rating less than BBB

      

**6

Govt. Companies (Domestic & Foreign)

3

 1,506.71

  

29.56%

 

7

Pools

      

8

Other Domestic Cos. (Pvt. Domestic Cos.)

      
 

Total

4

 4,598.10

    

(Kindly note that all Ratings are as per S&P's Financial Strength Rating Scale)

 

(Premium information is extracted from system)

 

*Note: Syndicate 1947 share is 20% of GIC Share on ceded treaties for 2020-21 year.

 

**Note:

 

For K Quota 2020, GIC Gross participation is 3.1982% with National 0.3893% and United 0.5562% of 100%.

 

ie: USD 7m (National) and USD 10m (United India) totalling USD 17m retro participation of GIC Gross participation USD 57,503,780.

 

This results in 29.56327% of our share retroceded.

 

** including Reinstatement premium for New India Sydney retro of 0.12 lac