Worldwide Insurance Brokers ltd. is incorporated in India and was founded in July 2004, as direct insurance broking firm. Our licence was upgraded from direct insurance broking to composing insurance broking in 2014. Our licence is valid till July, 2021. We are an independent Re-insurance and insurance risk solution providers. We have the ability and expertise to meet our customer needs and deal with their challenges.

Our Services

Treaty Reinsurance Facultative Reinsurance
Proportional - Quota share ,Surplus Proportional
Catastrophe - Excess of loss XL
Retrocession XL
Risk Excess of loss
Aggregate and stop loss cover

Classes of Business Handled

Property Insurance : Fire, Engineering and Construction
Causality Specialist : Marine, Energy- onshore & offshore, Refineries and petrol chemical, Kidnap and Ransom
Agriculture : Crop Insurance, Livestock insurance
Liability : Cyber, Professional indemnities, CGL, Product, Umbrella, Excess liability, Employer’ liability
Others : Aviation, Jeweller’s block, Political risk, credit risk, Functions of Reinsurance /Composite Broker-As per IRDAI regulations;

The functions of a re-insurance broker shall include the following:

  • Familiarizing himself with the client’s business and risk retention philosophy;
  • Maintaining clear records of the insurer's business to assist the reinsurer(s) or others;
  • Rendering advice based on technical data on the reinsurance covers available in the international insuranceand the reinsurance markets;
  • Maintaining a database of available reinsurance markets, including solvency ratings of individual reinsurers;
  • Rendering consultancy and risk management services for reinsurance;
  • Selecting and recommending a reinsurer or a group of reinsurers;
  • Negotiating with a reinsurer on the client’s behalf;
  • Assisting in case of commutation of reinsurance contracts placed with them;
  • Acting promptly on instructions from a client and providing it written acknowledgements and progress reports;
  • Collecting and remitting premiums and claims within such time as agreed upon;
  • Assisting in the negotiation and settlement of claims;
  • Maintaining proper records of claims;
  • Exercising due care and diligence at the time of selection of reinsurers and international insurance brokers having regard to their respective security rating and establishing respective responsibilities at the time of engaging their services;
  • Creation of market capacity and facility for new, stressed, emerging and existing business and asset class for and from both direct insurers and reinsurers;
  • Render preliminary loss advice (PLA) within reasonable time;
  • Given the nature of business, separate norms need to be followed for Inward and Outward business
    • Inward business
      • Broker to have adequate specific knowledge of the country whose business is being offered like: political stability, economic position, local regulations, tax laws, etc.
      • Introduce new business/ products depending on the reinsurers business plan and risk appetite
    • Outward business
      • Rating and market credibility of the reinsurer
  • To ensure prompt collection and remittance of funds, follow up for funds to be initiated sufficiently before the due dates for settlement from cedent to reinsurer and from reinsurer to cedent as relevant;

Functions of composite broker-A composite broker shall carry out the functions both of insurance broker and reinsurance broker.

We value our customers and look forward to making the journey with them.