by AIP Online Bureau | Feb 24, 2022 | International News, Non-Life, Reinsurance
‘GIC disputes the allegations of the complaint and will address claims at the appropriate time in the litigation. Beyond that, GIC has no comment on the allegations or claims asserted in that proceeding as the matter is pending adjudication before the US...
by AIP Online Bureau | Feb 10, 2022 | Indian News, Non-Life, Reinsurance
GIC Re, as part of restructuring its global business to be more profitable by pruning loss making business, has reduced its gross premium income by 13 per cent to Rs 32,904.65 crore in the first nine months Fy2021-22 The reinsurer’s combined ratio(CR) was higher...
by AIP Online Bureau | Jan 17, 2022 | Indian News, Intermediaries, Non-Life, Regulation, Reinsurance
The approximate size of the Indian reinsurnace market is around Rs 55,000 cror in FY.2020-21. To begin with, obligatory cession for GIC Re was 10 per cent which was reduced to five per cent afterwards and the foreign reinsurers which are having braches in India are...
by AIP Online Bureau | Dec 30, 2021 | Eco/Invest/Demography, Indian News, Life, Non-Life, Regulation, Reinsurance, Risk Management
Domestic systemically important insurers(D-SIIs) are already being subjected to enhanced regulatory supervision as the continued functioning of D-SIIs is critical for the uninterrupted availability of insurance services to the national economy On Thursday, the...
by AIP Online Bureau | Dec 22, 2021 | Banking & Bancassurance, Indian News, Non-Life, Policy, Reinsurance
However, the ministry of finance has not selected any body for the IPO bound Life Insurance Corporation(LIC) which has provisions for two independent directors New Delhi:The government has appointed independent directors on board of various public sector insurance...
