Irdai Holds 4% Cession Rate, Backs GIC Re
Irdai has held the mandatory reinsurance cession rate at 4% for FY27, requiring all general insurers to channel that share of premiums to GIC Re. The decision protects GIC Re's guaranteed premium base despite the entry of new domestic rivals Jio-Allianz Re and Valueattics Re, who must compete for discretionary business