FORM NL-23 : Reinsurance Risk Concentration

 

Insurer: General Insurance Corporation Of India

Date- 01.04.2021  to 30.06.2021

 
        
        

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)

17

 

 4,345.10

 

14.18%

 

3

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

31

 3,352.88

 18,103.05

 

70.00%

 

4

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

7

 

 3,252.63

 

10.61%

 

5

Reinsurer's with rating less than BBB

2

 

 105.97

 

0.35%

 

6

Govt. Companies (Domestic & Foreign)

5

 

 1,489.51

 

4.86%

 

7

Pools

      

8

Other Domestic Cos. (Pvt. Domestic Cos.)

      
 

Total

62

 3,352.88

 27,296.26

 

100.00%

 

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

   

(Premium information is extracted from system)

    
        

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

0

0.00

0.00

0.00

  

2

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

1

0.00

120.69

0.00

3.47%

 

3

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

23

0.00

2993.28

0.00

86.10%

 

4

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

7

0.00

306.20

0.00

8.81%

 

5

Reinsurer's with rating less than BBB

2

0.00

58.63

0.00

1.69%

 

6

Govt. Companies (Domestic & Foreign)

2

-4.63

0.00

0.00

-0.13%

 

7

Pools

1

0.00

2.43

0.00

0.07%

 

8

Other Domestic Cos. (Pvt. Domestic Cos.)

0

0.00

0.00

0.00

  
 

Total

36

-4.63

3481.23

0.00

100.00%

 

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

    

(Premium information is extracted from system)

    
        

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)

    
        

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

0

 -  

 -  

 -  

  

2

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

0

 -  

 -  

 -  

0.00%

 

3

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

1

 -  

 -  

 251.36

3.10%

 

4

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

0

 -  

 -  

 -  

  

5

Reinsurer's with rating less than BBB

0

 -  

 -  

 -  

0.00%

 

6

Govt. Companies (Domestic & Foreign)

2

  

 2,742.46

33.83%

 

7

Pools

0

 -  

 -  

 -  

  

8

Other Domestic Cos. (Pvt. Domestic Cos.)

8

 -  

 -  

 5,112.89

63.07%

 
 

Total

11

 -  

 -  

 8,106.71

100.00%

 

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

    

(Premium information is extracted from system)

   
        

Name of the RI Programme - Property Domestic Business

(₹ 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

  

 4,982.00

52.75%

 

3

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

9

 1,553.73

 145.02

 2,725.31

46.85%

 

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

2

 

 37.94

 

0.40%

 

8

Other Domestic Cos. (Pvt. Domestic Cos.)

      
 

Total

14

 1,553.73

 182.96

 7,707.31

100.00%

 

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

    

(Premium information is extracted from system)

    
        

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)

    
        

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)

    
        

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

 -  

  

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

      

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

   

(Premium information is extracted from system)

    
        

Name of the RI Programme - Combined Marine & Energy XL, International Hull & Cargo XL

(₹ 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)

9

 

 432.92

 

9.95%

 

3

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

43

 

 3,815.59

 

87.73%

 

4

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

4

 

 100.91

 

2.32%

 

5

Reinsurer's with rating less than BBB

      

6

Govt. Companies (Domestic & Foreign)

      

7

Pools

      

8

Other Domestic Cos. (Pvt. Domestic Cos.)

      
 

Total

56

 -  

 4,349.42

 -  

100.00%

 

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

    

(Premium information is extracted from system)

    
        

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)

    
        

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)

3

 

 9,568.19

 

39.25%

 

3

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

47

 

 11,173.75

 

45.83%

 

4

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

23

 

 3,132.39

 

12.85%

 

5

Reinsurer's with rating less than BBB

4

 

 276.84

 

1.14%

 

6

Govt. Companies (Domestic & Foreign)

1

 

 34.95

 

0.14%

 

7

Pools

1

 

 194.11

 

0.80%

 

8

Other Domestic Cos. (Pvt. Domestic Cos.)

      
 

Total

79

 

 24,380.23

 

100.00%

 

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

    

(Premium information is extracted from system)

    
        

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)

1

 

0.09

 

25.00%

 

3

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

14

 

0.21

 

58.33%

 

4

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

8

 

0.04

 

11.11%

 

5

Reinsurer's with rating less than BBB

1

 

0.01

 

2.78%

 

6

Govt. Companies (Domestic & Foreign)

2

 

0.01

 

2.78%

 

7

Pools

      

8

Other Domestic Cos. (Pvt. Domestic Cos.)

      
 

Total

26

 

 0.36

 

100.00%

 

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

    

(Premium information is extracted from system)

    
        

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)

    
        
        

Name of the RI Programme - Property Foreign

[ Hannover K Quota, GIC Re Syndicate, FAIR NAT CAT 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

      

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

0.13

  

20.00%

 

4

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

1

-7.35

  

15.00%

 

5

Reinsurer's with rating less than BBB

      

**6

Govt. Companies (Domestic & Foreign)

2

-4.86

  

29.56%

 

***7

Pools

1

145.55

 

   

8

Other Domestic Cos. (Pvt. Domestic Cos.)

      
 

Total

 

 133.47

    

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

 

(Premium information is extracted from system)

 

*Note 1: Syndicate 1947 share is 20% of GIC Share on ceded treaties for 2020-21 year.

 

**Note 2:

 

For K Quota 2021, 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

 

***

 

4 different treaties from China ceded to FAIR NAT CAT Pool for different percentage of cession.

 

Total 5 treaties ceded to the FAIR NAT CAT Pool