Reinsurance Slips
Treaty placement slips, signing management & countersignature tracking
Total Slips FY24-25
142
Fully Signed
136
Awaiting Countersign
3
Drafts In Progress
3
All Slips (142)
Signed (136)
Pending (3)
Drafts (3)
SLIP/2024/001 · Linked: TE/2024/QS/FIRE/001
Fire & Engineering — Proportional Quota Share Treaty
✅ Fully Signed
Signed: 18 Mar 2024
Quota Share
40%
₹842 Cr
32.5%
01 Apr 24 – 31 Mar 25
SLIP/2024/005 · Linked: TE/2024/QS/HLTH/005
Health & Personal Accident — Quota Share Treaty
⏳ Awaiting Countersign
Overdue by 12 days
Quota Share
25%
₹480 Cr
28%
01 Jul 24 – 30 Jun 25
SLIP/DRAFT/2025/089 · Linked: TED-2025-0089
Fire & Property — Quota Share Treaty FY 2025–26
📝 Draft
Created: 22 Apr 2025
Quota Share
40% (proposed)
₹900 Cr (est.)
TBD
01 Apr 25 – 31 Mar 26
Slip Preview — SLIP/2024/001
REINSURANCE SLIP
Proportional Quota Share Treaty
Fire & Engineering · FY 2024–25
REF: SLIP/2024/001 · Treaty: TE/2024/QS/FIRE/001
Parties
Cedant (Reassured)
IndiaShield General Insurance Company Limited
IRDAI Reg. No. 156 · Mumbai, Maharashtra, India
IRDAI Reg. No. 156 · Mumbai, Maharashtra, India
Reinsurer
Munich Reinsurance Company
Königinstrasse 107, 80802 Munich, Germany · S&P: AA+
Königinstrasse 107, 80802 Munich, Germany · S&P: AA+
Broker
Aon Benfield India Private Limited · IRDAI Broker Lic. CB/121
Treaty Terms
Treaty Type
Proportional Quota Share Treaty (Automatic)
Period
01 April 2024 to 31 March 2025 (Both days inclusive), Annual renewable
Lines of Business
Fire, Industrial All Risks, Special Contingencies, Engineering (CAR, EAR, MBD), Contractors Plant & Machinery
Territorial Scope
India only (all States and Union Territories)
Cedant Share
60% (Sixty percent)
Ceded Share
40% (Forty percent) — Munich Re
Ceding Commission
32.5% flat on ceded premium. Sliding scale: 30%–35% as per loss ratio
Profit Commission
15% of profit above 55% combined loss ratio, calculated annually
ECPI
INR 842 Crore (Estimated Ceded Premium Income)
Cash Loss
INR 25 Crore per single event — payable within 30 days of notice
Settlement Currency
Indian Rupee (INR) — quarterly accounting
IRDAI Compliance
5% mandatory cession to GIC Re satisfied. IMF order preference observed.
Governing Law & Arbitration
Governing Law
Laws of India
Jurisdiction
Courts of Mumbai, Maharashtra, India
Arbitration
Indian Arbitration & Conciliation Act, 1996 — Seat: Mumbai. Three-member panel.
Cedant Signature
IndiaShield General Insurance Co. Ltd.
✅ Signed digitally · 15 Mar 2024
Reinsurer Signature
Munich Reinsurance Company
✅ Countersigned · 18 Mar 2024