Reinsurance News

India’s GIC Re prepared to move into Iranian market

10th April 2017 - Author: Staff Writer

Leaders of India’s GIC Re and Central Insurance of Iran set the agenda for closer re/insurance collaboration between the two countries on the sidelines of the Management Board Meeting of Asian Reinsurance Corporation (Asian Re).

Alice Vaidyan, Chief Executive Officer of state-owned GIC Re said she was prepared to meet officials of Iran’s insurance industry to offer reinsurance to the Iranian market.

In turn Central Insurance of Iran’s president, Abdolnaser Hemmati called for transfer of a portion of risks in the Indian market to the Central Insurance of Iran – emphasizing the need for increased cross-market business transactions.

GIC Re is the largest Indian reinsurance company, and the world’s fourteenth major reinsurer, reporting a premium volume of 2.8 billion dollars last year.

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