The Insurance Regulatory and Development Authority of India (IRDAI) has so far given licences to seven re-insurers to set up branches in India, Santosh Kumar Gangwar, Minister of State for Finance, said in a written reply to a Lok Sabha question on Friday.

These are Munich Re, Swiss Re, SCOR, Hannover Ruck, RGA Life Reinsurance Company of Canada, Lloyd’s India Reinsurance Branch and XL Insurance Company’s India Reinsurance branch. As on date, GIC Re is the only re-insurer fully operational in India.