General Insurance Corporation of India - Company Profile
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General Insurance Corporation of India (GIC), a government-owned company, is primarily involved in providing reinsurance services to direct general insurance companies. Its main activities include offering reinsurance solutions across various classes of business such as property, marine, energy, engineering, and aviation. The company's services serve a wide range of industries, including fire, motor, marine, engineering, aviation, health, liability, agriculture, and life insurance, serving both domestic and international clients. GIC Re operates through a network of branch offices and subsidiaries, enabling its services to be delivered across various regions. Its geographic presence includes locations in the UK, the UAE, Malaysia, South Africa, China, Hong Kong, Germany, France, the UAE and Turkey. GIC is headquartered in Mumbai, Maharashtra, India.
Headquarters
India
Address
Suraksha170 J Tata Road Churchgate, Mumbai, Maharashtra, 400020
Website
www.gicre.in
Telephone
91 22 22867000
No of Employees
418
Industry
Financial Services
Ticker Symbol & Exchange
GICRE (NSE)
Revenue (2025)
$5.1B
18.5%
(2025 vs 2024)
EPS
XYZ
Net Income (2025)
XYZ
30%
(2025 vs 2024)
Market Cap*
$6.1B
Net Profit Margin (2025)
XYZ
9.7%
(2025 vs 2024)
* As of and is in US$
General Insurance Corporation of India premium industry data and analytics
Products and Services
| Products | Services | Brands |
|---|---|---|
| Property Reinsurance | Service: | GIC Re |
| Health Reinsurance | Claims Services | |
| Marine Hull and Cargo Reinsurance | ||
| XYZ | ||
| XYZ | ||
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2024 | Contracts/Agreements | In September, GIC Re partnered with MIC Global to offer digital reinsurance solutions to India's insurance providers. |
| 2024 | Plans/Strategy | In April, the company announced its plans to sell a stake held by the Indian Government. |
| 2023 | Others | In November, the company was affirmed with a financial strength rating of ‘B++’ with a positive outlook and a Long-term Issuer Credit Rating of “bbb+” with a good outlook by AM Best. |
Competitor Comparison
| Key Parameters | General Insurance Corporation of India | The New India Assurance Co Ltd | ICICI Lombard General Insurance Co Ltd | Go Digit General Insurance Ltd | Hannover Ruck SE – India Branch |
|---|---|---|---|---|---|
| Headquarters | India | India | India | India | India |
| City | Mumbai | Mumbai | Mumbai | Bangalore | Mumbai |
| State/Province | Maharashtra | Maharashtra | Maharashtra | Karnataka | Maharashtra |
| No. of Employees | 418 | 10,403 | 15,008 | 4,589 | - |
| Entity Type | Public | Public | Public | Public | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Hitesh Rameshchandra Joshi | Chairman; Managing Director | Executive Board | 2026 | 57 |
| Jayashri Balkrishna | Chief Risk Officer; Director | Executive Board | 2025 | 58 |
| Rajesh Laheri | Chief Financial Officer; Deputy General Manager- Finance and Taxation | Senior Management | 2026 | - |
| Rajesh Khadatare | Chief Marketing Officer; General Manager | Senior Management | 2022 | - |
| Geeta S. Nair | Chief Marketing Officer; Deputy General Manager | Senior Management | 2026 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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