Bank of Russia gives license to GIC Re for reinsurance business

India’s reinsurance company, General Insurance Corporation of India (GIC Re) has received the license from Central Bank of the Russian Federation (Bank of Russia) to commence reinsurance business in Russia. The license enables the subsidiary to commence transacting domestic and international reinsurance business in Russia based on the capital invested by the Corporation.

Important takeaways for all competitive exams:

• Chairman and MD of General Insurance Corporation of India: Devesh Srivastava.
• Headquarters of General Insurance Corporation of India: Mumbai.
• Vladimir Putin is President of Russia.
• Moscow is the capital city of Russia.
• The Russian ruble is the currency Russia.

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