ITI Re may surrender licence on regulatory barriers: report

India's first private market reinsurer ITI Re is considering
the possibility of surrendering its licence due to regulatory
issues in the country, including credit rating stipulations and
obligatory cession rules.
Several of the company's executives have attacked rules
requiring insurers to cede 5 percent of premiums to state-backed
reinsurer GIC Re, saying that the firm could drop its licence if
the stipulation remains unchanged, according to anEconomic Times of India report.
ITI Re's licence wa