A Company is deemed to be “admitted” in India when it has been licensed and accepted by IRDA. In determining its financial condition a ceding insurer is allowed to take credit for the unearned premiums and unpaid claims on the risks reinsured if the reinsurance is placed in an admitted reinsurance company.
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US, MEDICAL: Reinsurer licensed to accept reinsurance in a given region in the United States. Also called an authorized reinsurer.