GIC Re- first insurance company to sets up base in GIFT City, Gujarat


General Insurance Corporation of India (GIC Re) has become the first re-insurer to open an office at India’s first International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City).

Wholly-owned by the government, GIC Re, which supported the growth of general insurance business in the country through its four wholly-owned subsidiaries for about 30 years, was designated as the national reinsurer in 2001. It provides reinsurance support to life and non-life insurers in India and abroad.

    Takeaways from above News-
    • GIC Re becomes the first insurance company to sets up base in GIFT City, Gujarat
    • GIC Re is wholly owned by the government and was designated as the national reinsurer in 2001
    • Mrs. Alice G Vaidyan is the Chairman-cum-Managing Director of GIC Re
    • It is headquartered in Mumbai, Maharashtra.

    If you have any other takeaways, do share with us in the comment section
    Source- The Hindu
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