Reinsurance Management
Insurance Institute of India: Associate Examination
Covers the fundamentals of reinsurance: its purpose, forms (facultative and treaty) and methods (proportional quota share and surplus, and non-proportional excess of loss and stop loss); retentions and reinsurance programme design; placement, law and treaty clauses; reinsurance accounting; markets and financial security; alternative risk transfer; inward business; information processing; catastrophe modelling; Indian reinsurance regulations; and insurance pools.
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IC-85 exam at a glance
| Level | Optional paper for Licentiate, Associateship or Fellowship |
|---|---|
| Credit points | 40 |
| Exam | 2 hours, online, multiple choice |
| Pass mark | 60% (75% for distinction) |
459 practice + 215 Enhanced Practice
Across 17 chapters, every question reviewed and exam-aligned.
Tap a chapter to see what it covers.
1Introduction to Reinsurance27 + 12 Enhanced questions27 + 12 Enhanced
Reinsurance basics: its nature, historical background and main functions for insurers.
2Forms of Reinsurance27 + 10 Enhanced questions27 + 10 Enhanced
Forms of reinsurance: facultative, treaty, and facultative obligatory arrangements.
3Methods of Reinsurance - I27 + 12 Enhanced questions27 + 12 Enhanced
Proportional reinsurance: quota share and surplus treaties, and how proportional treaties work.
4Methods of Reinsurance - II27 + 12 Enhanced questions27 + 12 Enhanced
Non-proportional reinsurance: excess of loss contracts, deductibles and limits, stop loss and catastrophe covers.
5Retentions27 + 20 Enhanced questions27 + 20 Enhanced
Retentions: setting retention limits, types of retention, and retentions for property, marine, aviation, liability and life.
6Reinsurance Programme - Design27 + 12 Enhanced questions27 + 12 Enhanced
Reinsurance programme design: objectives, gross to net evaluation, reinsurer accounts, funds flow and liquidity.
7Reinsurance - Distributing the Programme Arrangements27 + 12 Enhanced questions27 + 12 Enhanced
Placing a reinsurance programme: negotiation, direct placement and placement through intermediaries.
8Law and Clauses Relating to Reinsurance Contracts27 + 20 Enhanced questions27 + 20 Enhanced
Reinsurance contract law: legal basics, contract wordings, common and special clauses, slips and cover notes.
9Reinsurance Accounting27 + 15 Enhanced questions27 + 15 Enhanced
Reinsurance accounting: its special features, formats and methods, taxation and exchange control rules.
10Reinsurance Markets27 + 12 Enhanced questions27 + 12 Enhanced
Reinsurance markets: special characteristics, Lloyd's syndicates and reinsurance pools.
11Reinsurance Financial Security27 + 10 Enhanced questions27 + 10 Enhanced
Reinsurer security: managing credit risk, criteria for evaluating reinsurers, and financial strength ratings.
12Alternatives to Traditional Reinsurance27 + 12 Enhanced questions27 + 12 Enhanced
Alternatives to traditional reinsurance: alternative risk transfer, derivatives, securitisation and new markets.
13Inward Reinsurance Business27 + 12 Enhanced questions27 + 12 Enhanced
Inward reinsurance business: why insurers accept it, business strategy, retrocession and reciprocal trading.
14Processing Information for Reinsurance Decisions27 + 12 Enhanced questions27 + 12 Enhanced
Reinsurance information: the role of statistics, use of technology, and organising the reinsurance department.
15Catastrophe Modelling27 + 10 Enhanced questions27 + 10 Enhanced
Catastrophe modelling: definition, role and basics of cat models, model vendors and their benefits.
16Reinsurance Regulations in India27 + 12 Enhanced questions27 + 12 Enhanced
Reinsurance regulations in India: evolution since 2000, IRDAI Reinsurance Regulations 2018 and regulatory advisories.
17Insurance Pools27 + 10 Enhanced questions27 + 10 Enhanced
Insurance pools: what they are, why they form, how they operate, and pools in India.
Draws from all 459 questions across every chapter, so no two attempts are the same.
The Advanced Mock Test draws from 215 Enhanced Practice questions.
IC-85: frequently asked questions
What does IC-85 cover?
IC-85 covers reinsurance: its forms and methods, retentions, programme design and placement, contract law and clauses, accounting, markets, security, alternatives, catastrophe modelling and Indian regulations.
Is IC-85 compulsory?
No. IC-85 is an optional paper worth 40 credit points. You can count it towards Licentiate, Associateship or Fellowship.
What is the pass mark for IC-85?
60%. A score of 75% or more is a pass with distinction.
How long is the IC-85 exam?
2 hours. It is an online exam with multiple choice questions.
When will I know my result?
You see your score right after the online exam. The formal result usually follows within about a month.
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