by AIP Online Bureau | Feb 1, 2023 | Indian News, Non-Life, Policy, Regulation, Reinsurance
The government has notified move on Tuesday saying that the entire Obligatory Cession is to be placed with General Insurance Corporation of India (GIC Re) only. Mumbai/New Delhi: Disappointing the private sector general insurers and foreign reinsurers which are having...
by AIP Online Bureau | Nov 10, 2022 | Indian News, Non-Life, Reinsurance
Devesh Shrtivastav, CMD, GIC Re GIC Re has performed well in the last couple of quarters, despite uncertain market condition owing to sanction, political upheaval, wear and tear of war crises, and vagaries of climate change. I think, we weathered the Pandemic...
by AIP Online Bureau | Oct 8, 2022 | Indian News, Non-Life, Reinsurance
The Credit Ratings (ratings) reflect GIC Re’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, favourable business profile and appropriate enterprise risk management (ERM). In addition, the ratings factor in a...
by AIP Online Bureau | Sep 19, 2022 | Indian News, Non-Life, Reinsurance
Globally, GIC Re, which is pruning its premium base by shedding its loss making business to be profitable, is the 14th largest international reinsurer in 2022. It was the 11th largest global reinsurer in 2021 “We would prefer to be one of the largest profitable...
by AIP Online Bureau | Aug 10, 2022 | Indian News, Life, Non-Life, Reinsurance
Devesh Srivastava, CMD, GIC Re “We are targeting a Combined Ratio of 100 per cent and work is on progress to achieve it in the medium term. We are now purely looking for profitable business and the market is aware of our focus. Topline growth will happen but it...
