General Insurance Corporation of India - Company Profile
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General Insurance Corporation of India (GIC), a government-owned company, is a provider of reinsurance products to general insurers. It offers reinsurance products on both treaty and facultative basis. Its offerings include property reinsurance, energy reinsurance, marine reinsurance, engineering reinsurance, transport reinsurance, liability reinsurance, accident reinsurance, and aviation reinsurance. The company also offers reinsurance products for agriculture, weather, spares, health, offshore energy, motor, marine hull and cargo, and life. GIC operates in India, the Middle East region, the ASEAN region, and the UK and European Union countries. It has branches in Dubai, the UAE; Labuan, Malaysia; and London, the UK. GIC is headquartered in Mumbai, Maharashtra, India.
Headquarters
India
Address
Suraksha, 170, Jamshedji Tata Road, Churchgate, Mumbai, Maharashtra, 400020
Website
www.gicre.in
Telephone
91 22 22867000
No of Employees
443
Industry
Financial Services
Ticker Symbol & Exchange
GICRE (NSE)
Revenue (2023)
$5.0B
* As of and is in US$
General Insurance Corporation of India premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Property Reinsurance | Service: |
| Health Reinsurance | Claims |
| Spares Reinsurance | |
| XYZ | |
| XYZ | |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 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. |
| 2023 | New Products/Services | In September, the company released its Customized Corporate My Stamp. |
| 2023 | Contracts/Agreements | In March, the company and The Indian Institute of Technology Roorkee entered into a partnership agreement to develop energy-generating solar window technology. |
Competitor Comparison
| Key Parameters | General Insurance Corporation of India | Hannover Ruck SE – India Branch | Munich Reinsurance Company - India Branch | RGA Life Reinsurance Company of Canada - India Branch | SCOR SE India Branch |
|---|---|---|---|---|---|
| Headquarters | India | India | India | India | India |
| City | Mumbai | Mumbai | Mumbai | Mumbai | - |
| State/Province | Maharashtra | Maharashtra | Maharashtra | Maharashtra | - |
| No. of Employees | 443 | - | - | - | - |
| Entity Type | Public | Private | Private | Private | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Ramaswamy Narayanan | Managing Director; Chairman | Executive Board | 2023 | - |
| Pratik Punjabi | Chief Financial Officer | Senior Management | 2024 | - |
| Rajesh Khadatare | Deputy General Manager; Chief Marketing Officer | Senior Management | 2022 | - |
| Jayashri Balkrishna | Chief Risk Officer; General Manager | Senior Management | 2023 | - |
| Suresh Savaliya | Company Secretary; Chief Compliance Officer | Senior Management | - | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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