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XL Catlin today announced it has gained final "R3" approval from the Insurance Regulatory Development Authority of India (IRDAI) to write reinsurance business in the country.
The regulator has permitted the carrier to open a branch office of XL Insurance Company, which will be in Mumbai, offering both treaty and facultative reinsurance.
Xl Catlin has appointed Joseph Augustine as branch CEO, and the office will open in time for April 1 renewals, the company said.