Current Affairs · Banking & Insurance Regulations
Consider the following statements regarding the operational framework of the insurance industry in India: I. 'Actuaries' are professionals responsible for the mathematical calculation of premiums and the assessment of the financial health of insurance companies. II. The 'Solvency Margin' of an insurance company must be reported to the IRDAI on a daily basis to prevent any liquidity crises. III. 'Reinsurance' is a mechanism where a primary insurance company transfers a portion of its risk to a reinsurer to manage its exposure. IV. The 'General Insurance Corporation of India' (GIC Re) is the national reinsurer in India and receives obligatory cessions from other insurers. Which of the assessments of these statements is most accurate?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statements I, III, and IV are correct.✓
- 2Statements II and III are correct.
- 3Statements I and II are correct.
- 4All statements are correct.
Correct answer
Statements I, III, and IV are correct.
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