Reinsurance News


Indian state-owned GIC Re names banks selected for IPO

10th May 2017

Indian state-owned reinsurer GIC Re has listed five banks; HSBC, Citi, Deutsche Bank, Kotak and Axis for its initial public offering (IPO) - with Citi as the listing’s lead manager. The reinsurer, which is currently 100% owned by the state, is awaiting government instructions on how much stake to offer through ... Read the full article

GIC Re becomes first reinsurer to establish base at India’s GIFT City

21st April 2017

The General Insurance Corporation of India (GIC Re), the country's state-backed reinsurance entity, has now opened its office at the International Financial Services Centre (IFSC) in Gujarat International Finance Tec-City (GIFT City), after more than a year's planning. The opening of GIC Re's IFSC Insurance Office sees it become the first reinsurance ... Read the full article

GIC Re doubles growth due to government crop insurance scheme

19th January 2017

Indian state backed reinsurance firm General Insurance Corporation of India (GIC Re) has been able to double its growth thanks to the roll-out of a government backed crop and weather-index insurance scheme. As the state-backed reinsurer, GIC Re has priority on re/insurance schemes such as the Pradhan Mantri Fasal Bima Yojana, ... Read the full article