During the inspection of several broker and insurers, it was found that audit trial of many transactions with regard to reinsurance placements and coinsurance was very difficult to track.

The trial started going cold after the money reaches the broker and cash flows to and from the reinsurer were not available for monitoring, either with the broker or the insurer.


1. Chairman, IRDA - Chairman

2. Shri C N S Shastri - Co Chairman

3. Member, Non – Life - Member

4. Member, Life - Member

5. Member, Actuary - Member

6. CMD, GIC - Member

7. Executive Director, Admn - Member Convenor

The Terms of reference of the Committee are as follows:

a) to study various models of electronic transactions and settlement system in reinsurance and coinsurance

b) to develop a system suitable to Indian context

c) to select suitable hardware and software

d) to set up suitable organizational structure for implementation of the system

e) to operationalize the system in a period of six to nine months


Working Committee is hereby constituted with the following members:

Nominee of CMD, GIC
Nominee of CMD, LIC
Secretary General, Life Insurance Council
Secretary General, General Insurance Council
JD (Non Life)
JD (Health)
JD (Information Technology)
DD (Finance and Accounts)
ED (Admn) as Member Convenor


Electronic Transaction Administration and Settlement System (ETASS)
IRDA :