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Insurance regulator Irdai has set up a 17-member committee to conduct a comprehensive review of the existing reinsurance framework.
The Insurance Regulatory and Development Authority of India (Irdai) has notified various regulations, guidelines, and circulars over the years. As per the regulator, the enactment of Insurance Laws (Amendment) Act, 2015, has brought about changes in the reinsurance market that facilitated entry of foreign reinsurance branches (FRBs) and Lloyd's India Branch, Lloyd's Syndicates and Service Companies.
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