General Insurance Corporation of India (GIC Re)
General Insurance Corporation of India (GIC Re) is a public reinsurance company headquartered in Mumbai, Maharashtra, with a team of 498 employees.
Industry Overview
General Insurance Corporation of India operates within the insurance industry, specifically focusing on reinsurance. As a reinsurance company, it provides insurance coverage to other insurance companies, helping them manage risk and ensure financial stability. The company engages in retrocession, which involves transferring portions of risk to other reinsurance entities. This practice allows for better risk management and capital allocation within the insurance sector.
Headquarters and Global Presence
The headquarters of General Insurance Corporation of India is located in Mumbai, Maharashtra. The company maintains a global presence with offices in several international locations, including London, Dubai, and Kuala Lumpur. This international footprint enables GIC Re to serve a diverse clientele and participate in various global insurance markets.
Reinsurance Products Offered
General Insurance Corporation of India offers a comprehensive range of reinsurance products. These include coverage for property, motor, agriculture, marine, aviation, and health sectors. The diversity of products allows GIC Re to cater to the varied needs of its clients, providing essential support to primary insurers across different industries.
Company Structure and Size
General Insurance Corporation of India is classified as a public company and operates as a medium-sized business with a team size of 498 employees. This size allows the company to maintain operational efficiency while providing a broad spectrum of services in the reinsurance market. The company is also listed on the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE), enhancing its visibility and accessibility to investors.