AEGON, an international life insurance, pension and investment company, Religare, one of Indias leading integrated financial services

groups and Bennett, Coleman & company, Indias largest media house, have come together to launch AEGON Religare Life Insurance Company Limited. This venture is dedicated to build a firm future, both for customers and employees and will continue to balance a local approach with the power of an expanding global operation.

The interview conducted on Re-Insurance from AEGON Religare Life Insurance Company helped me to gain immense knowledge about re-insurance activities of these companies & products & services they offer. It helped me to get the insights about my project and gave me a great understanding about my topic. The AEGON Religare Life Insurance Company have an auto reinsurance model (Quota share basis) based on which, any sum at risk exceeding the retention limit is auto ceded to the reinsurers on a pre-agreed proportion.

There are no agents involved & as there are no agents no commission is paid. The process of re-insurance is that they have an internal retention limit . Any case which exceeds this retention limit gets auto ceded to the reinsurers through a Quota Share model. It is also possible that a case can be Facultatively (individual risk/ case) placed with any of the reinsurers (100% of risk ceded to one particular reinsurer). In such cases, the case details are sent to both the reinsurers. The case gets placed with that reinsurer who first comes back with the most favourable decision. The premium amount paid cannot be shared as it is confidential. Many claims are lodged up to date in AEOgon Religare Life Insurance Company. It is also profitable for the company from risk sharing prospective. The AEOgon Religare Life Insurance Company is already re-insurred & it is satisfied with the re-insurers.The re-insurers parties of AEOgon Religare Life Insurance Company are Reinsurance Group of America and Munich Re & both are international.