Irdai publishes Lloyd's India regulations

Indian regulator the Insurance Regulatory and Development Authority
(Irdai) has demanded that syndicates on the Lloyd's India
platform must retain a minimum of 30 percent of Indian reinsurance
business, or face a penalty.
Under the regulations, which were published earlier this week
(28 March), Irdai stipulates that each Lloyd's syndicate must
retain a minimum of 30 percent or 50 percent of Indian reinsurance
business, depending on the type of registration it holds.
Each syndicate will also need