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