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Friday, 13 October 2017

GIC Re Launched India’s Third Largest IPO


General Insurance Corp of India (GIC Re) kicked off its mega Rs 11,370 crore initial public offer (IPO). This is India's third biggest IPO ever after Coal India's Rs 15,200 crore and Reliance Power's Rs 11,700 crore issues.

General Insurance Corporation of India (GIC Re) is the largest reinsurance company in India in terms of gross premiums accepted in fiscal 2017.

Important Takeaways from Above News-
  • Reinsurance is insurance purchased by an insurance company from other insurance firms to manage their risk.
  • Alice Vaidyan is the CMD of GIC Re.
  • GIC Re is headquartered in Mumbai.
Source- The Economic Times


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