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NATIONAL INSURANCE TRUST FUND by fjhuangjun

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									              Government of Democratic Socialist Republic of Sri Lanka
                     Ministry of Finance and Planning

                National Insurance Trust Fund
   INVITATION FOR EXPRESSION OF INTEREST FOR THE NITF

Procurement of Reinsurance services for Retrocession Arrangement - 2009 to
cover compulsory cession.


  1. The Chairman, Cabinet Appointed Procurement Committee, (hereinafter called
     CAPC), Ministry of Finance and Planning on behalf of National Insurance
     Trust Fund, (hereinafter called NITF) hereby invites Expression of Interest
     from eligible Reinsurers/ Reinsurance Brokers for procurement of Reinsurance
     services for retrocession arrangement 2009 to cover compulsory cession.
  2. According to the Extraordinary Gazette No. 1528/20, dated 19th December
     2007 of the Democratic Socialist Republic of Sri Lanka, all Insurance
     Companies Registered in Sri Lanka shall cede 20% of their General
     Reinsurance business to the National Insurance Trust Fund and NITF shall
     arrange retrocession cover to protect its own account.
  3. Interested parties may submit the pre-qualification documents upon payment of
      a non-refundable fee of US$ 100 or equivalent in LKR by Bank draft in favour
      of National Insurance Trust Fund on or before 16.00 hrs on 07/01/2009. A
      reference copy of document for Expression of Interest can be down loaded
      from the website www.nitf.lk.or it can be obtained from NITF office from 9.00
      am 3.00 pm.
   4. Submission of Application for Expression of Interest must be received in
      sealed envelopes, either delivered by hand or couriered to The Chairman,
      Cabinet Appointed Procurement Committee, C/o Manager Reinsurance,
      National Insurance Trust Fund, No. 70, D. R. Wijewardena Mawatha,
      Colombo 10. These documents should be submitted to the NITF not later than
      16.00 hrs on 07/01/2009 and be clearly marked “Application to pre-qualify for
      Procurement of Reinsurance Services for Retrocession Arrangement -2009-
      NITF/CC/02/2009 on the top left hand corner of the envelope.
   5. Expression of Interest will be opened immediately after the closing of EOI. The
       Reinsurers /Reinsurance brokers or their authorized representatives will be
       allowed to be present.


   6. Short listed parties will be issued with Request for Proposals. (RFP)

   7. Any Clarification can be sought from Mr.W.M.K.Bandara Manager
      Reinsurance, National Insurance Trust Fund, No. 70, D.R.Wijewardena
      Mawatha, Colombo 10.




The Chairman,
Cabinet Appointed Procurement Committee
C/o National Insurance Trust Fund
No.70, D. R. Wijewardena Mawatha,
Colombo 10.
Fax 94112431145
E-mail: reinsurance@nitf.lk Web site: www.nitf.lk
               NATIONAL INSURANCE TRUST FUND
            INVITATION FOR EXPRESSION OF INTEREST
        PROCUREMENT OF SERVICES FOR THE RETROCESSION
                     ARRANGEMENT -2009

                       TO COVER COMPULSORY CESSION

Reference No: NITF/CC/02/2009



The Chairman Cabinet Appointed Procurement Committee, National Insurance Trust Fund, 70.
D. R. Wijewardanna Mawatha, Colombo-10, Sri Lanka invites Expression of Interest from
eligible Reinsurers/ Reinsurance Brokers for the Reinsurance Arrangement for the year 2009 to
cover compulsory cession.
Receiving of Expression of Interest will be closed at 16:00 hours on 07/01/2009.

The Expression of Interest will be evaluated and the short -listed parties will be issued with
Request for Proposals. (The document for the Expression of Interest is not transferable.)

Any clarification can be sought from:

Manager -Reinsurance
National Insurance Trust Fund,
70, D. R. Wijewardana Mawatha,
Colombo-10
Sri Lanka
Telephone: 4873901 - 5
E-mail: bandara@nitf.lk

Chairman, Cabinet Appointed Procurement Committee
C/o Manager -Reinsurance, National Insurance Trust fund
70, D. R. Wijewardana Mawatha,
Colombo-10
Sri Lanaka
PRE-QULIFICATION DOCUMENT

INTRODUCTION ABOUT NATIONAL INSURANCE TRUST FUND

There are 14 composite Insurance Companies, currently registered and operating in Sri Lanka
provides General Insurance Covers and it is compulsory for them to cede 20% of their General
Reinsurance Business with the NITF.

The objective of the National Insurance Trust Fund is to minimize the ultimate net loss resulting
from the catastrophic events including natural catastrophes and relieve the burden of
Government from excessive claims resulting from the catastrophic events.

EXPRESSION OF INTEREST (EOI)

EOI is invited for the Procurement of Reinsurance Services for the Retrocession Arrangement –
2009 to cover compulsory cession, for the period 01/04/2009 to 31/03/2010.

The retrocession limits, Scope of Cover and other terms and conditions will be submitted to the
short listed eligible Reinsurers/Reinsurance Brokers (who have submitted the Expressions of
Interests) along with the Bid Requisition documents.

INSTRUCTIONS TO PARTIES EXPRESSING INTEREST

Expression of Interest should be submitted by the Reinsurer/Reinsurance Broker or his
authorized agent.

The Expression of Interest document should be prepared to include following areas for short
listing: (Evaluation Criteria 2-5)


   1. "Letter of Application - Form 1

   2. General Information and Experience - Form 2

   3. Financial Capabilities - Form 3

   4. International Ranking

   5. Experience in Sri Lankan Market.


If the Reinsurer/ Reinsurance Broker is represented by an authorized local agent a Power of
Attorney is required as per the Form – A attached herewith.
SHORT LISTED PARTIES

Short listed parties will be notified along with Bid Documents.

DUE DATE FOR SUBMISSION OF EXPRESSION OF INTEREST

Expression of Interest should be submitted to the following address given below: on or
before 16.00 hrs Sri Lanka time on 07/01/2009.

Chairman, Cabinet Appointed Procurement Committee
C/O Manager -Reinsurance
National Insurance Trust Fund
70, D.R. Wijewardana Mawatha,
Colombo-10
Sri Lanka


Expression of Interest should be submitted with one original document including a copy
clearly labeled as "Original" and Copy"

CLARIFICATION ON EXPRESSION OF INTEREST

Further Clarifications on Expression of Interest could be obtained from the following officer.


Mr. W.M.K. Bandara
Manager -Reinsurance
National Insurance Trust Fund
70, D.R. Wijewardana Mawatha,
Colombo-10
Sri Lanka
Telephone: 4873901 - 5
E-mail: bandara@nitf.lk


The NITF may disqualify Reinsurers/Reinsurance Brokers without giving any reason whose
response of Expression of Interest and clarifications are not suitable to the National Insurance
Trust Fund.

								
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