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Prem Watsa and Allianz apply for licenses for reinsurance ops in India
Insurance industry set to touch $280 bn by 2020: Venkaiah Naidu
GIC Re’s net at Rs 672 cr in Q3FY 2018
`With 60 per cent of the market share, we have maintained our leadership in the domestic market and would so in future despite competition arising out of presence of other major global reinsurers in India. We intend to bring down our combined ratio to below 100 per cent and wish to be the 10th largest reinsurer in the world at the end of the current fiscal,’’ said Vaidyan adding that setting up a syndicate at Lloyd’s of London, that will be starting its business in the new fiscal, will add to the international business of the GIC Re.
Six PSU insurers appointed as Insurance Ombudsmen
While four serving/retired officials of the public sector general insurance companies- K Sanath Kumar for Kochi, Sujoy Banerjee, retired director, Oriental Insurance Company for Hydeabad, Vasantha Krishna, director, NIC for Chennai, Milind Kharat, retired CMD of United India Insurance for Maharashtra and Goa and two retired officials of Life Insurance Corporation(LIC)- RG Shinde for Ahmedabad and Kirti Saha for Kolkata- have been selected from the insurance industry another four, belonging to judiciary and bureaucracy, have been picked up with a three tenure to fill up 10 vacant posts.
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