Crystal Search Results

Results for your quick search displayed by category. You need to log in or register to see content marked by a padlock icon.

Please make sure you view all key information in your search results before accepting a risk in the chosen territory.

Disclaimer: Crystal is provided for information purposes; it does not constitute solicitation of business and is not intended to be a substitute for appropriate professional advice. Information relating to Lloyd’s Brussels Subsidiary may be subject to regulatory approval.

Pre-placement considerations
* Please see Authorisation for details of Lloyd's underwriters licensing status
Please see Authorisation for details of Lloyd's Brussels licensing status


India *
* Please see Authorisation for details of Lloyd's underwriters licensing status


Lloyd's underwriters are not licensed to write insurance in or from India.

  • Residents in India may remit funds for securing healthcare insurance with a Lloyd's underwriter, provided however that the Indian resident procuring a general insurance (including health insurance) policy has obtained prior general or specific permission from the Central Government and the Reserve Bank of India. For more information on this exception please see below.
  • Risks situated in Special Economic Zones (SEZ), provided relevant permissions/registrations have been obtained and premiums are paid in foreign currency. For more information on this exception please see below.
  • Special approval by the Insurance Regulatory and Development Authority  of India (IRDAI)
  • Marine cargo insurance, which may be insured outside India in accordance with terms of trade


Lloyd's underwriters are permitted to write some (see below) reinsurance business in India through Lloyd's India, or on a cross-border basis provided the underwriting takes place outside of the territory. For more information about placing business through Lloyd's India, please contact LITA.

This is subject to the following: 

  • A compulsory reinsurance cession is in place (see the Insurance Act 1938 section 101A and the Insurance Regulatory and Development Authority of India (Reinsurance) Regulations 2018 (IRDAI Reinsurance Regulations), Regulation 3.2.A.a. Indian insurers must place a prescribed percentage of each policy with the "Indian reinsurer", the General Insurance Corporation (GIC). This is currently 5% (as of 1 April 2019).  Please note that this cession applies to all classes, with the exception of terrorism premium and premium ceded to the Nuclear pool, wherein it would be made 'NIL'.
  • With effect from 1 January 2019, every Indian reinsurer shall maintain a minimum retention of 50% of its Indian business (IRDAI Reinsurance Regulations, Regulation 3.2.C).
  • With effect from 16 January 2017, all Indian reinsurance business is subject to “Order of Preference” Regulations which require Indian insurers to cede business to reinsurers according to a prescribed order of preference. See below for more detail on the Regulations.
  • A requirement is in place that not more than 10% of an Indian insurer's reinsurance premium per risk ceded outside India be placed with any cross border reinsurer that has a rating of BBB or BBB+ from Standard & Poor’s, 15% with a cross border reinsurer with a rating  greater than BBB+ and up to and including A+ from Standard & Poor’s, and 20% with one that has a rating greater than A+ from Standard & Poor’s.  Lloyd's is currently rated A+ (Strong) by Standard and Poor’s and A (Excellent) by  A.M Best.  If an insurer wants to cede a larger proportion of the risk  to a cross border reinsurer, it requires the IRDAI's specific approval.
  • The reinsurance arrangements of Indian insurers are subject to regulatory oversight. Indian insurers are expected to "maximise retention within the country" (IRDAI Reinsurance Regulations, Regulation 3.1.A).

Effective 6 January 2012, the IRDAI require all reinsurers transacting reinsurance business on a cross-border basis to file an information sheet. Lloyd's has provided the necessary information required and specific syndicate information for this purpose which can be found below.

In December 2013, regulations on insurance brokers were issued which introduced a requirement that a local reinsurance intermediary must be in the chain when reinsurance contracts are placed with offshore reinsurers such as Lloyd's. Please see the "Intermediary Regulation" section for further details.

Last updated: 23 Apr 2019

Definition of risk location

India *
* Please see Authorisation for details of Lloyd's underwriters licensing status


A risk is deemed to be an Indian risk where the risk is situated in India or the contract of insurance relates to an Indian insured. Any ship, vessel or aircraft registered in India is also considered an Indian risk.  This does not apply to marine cargo insurance, which may be insured outside India in accordance with terms of trade.  

For general guidance on identifying the location of a risk please refer to the risk locator.

Last updated: 29 Dec 2017

Compulsory classes

India *
* Please see Authorisation for details of Lloyd's underwriters licensing status


The following classes are compulsory in India:

  • Motor third party liability for motor vehicles.
  • Third party liability for industries storing hazardous materials.
  • Professional indemnity insurance for direct insurance and reinsurance brokers, insurance marketing firms, and stockbrokers.
  • Aviation carriers' liability.
  • Professional indemnity for mutual fund managers.
  • Oil pollution coverage (a financial guarantee or insurance) as per Civil Liability Convention
Last updated: 29 Dec 2017