July 25, 2017 3:03 AM ET

Insurance

Company Overview of General Insurance Corporation of India

Company Overview

General Insurance Corporation of India offers reinsurance and risk management solutions to direct general insurance companies in India, SAARC countries, South East Asia, the Middle East, and Africa. It provides reinsurance in the areas of property, marine, engineering, miscellaneous, aviation-hull and spares-fixed wing, aviation treaty-hull, spares, and liability. The company also provides training, seminars, and workshops for junior and middle level executives from direct insurance and reinsurance companies looking after underwriting–direct/reinsurance, technical accounts, claims management, retrocession, and risk management. The company was incorporated in 1972 and is headquartered in Mumb...

Suraksha

170 Jamshedji Tata Road

Churchgate

Mumbai,  400 020

India

Founded in 1972

Phone:

91 22 2286 7000

Fax:

91 22 2289 9600

Key Executives for General Insurance Corporation of India

Chairman and Managing Director
General Manager and Director
Chief Executive Officer of Dubai Branch Office and Deputy General Manager of Dubai Branch Office
Chief Investment Officer and General Manager
Chief Compliance Officer, Assistant General Manager and Secretary
Compensation as of Fiscal Year 2017.

General Insurance Corporation of India Key Developments

GIC Re Floats RFP To Hire Registrars For Proposed IPO

State owned General Insurance Corporation of India has floated a request for proposal (RFP) to appoint registrars for its proposed divestment through an initial public offering. GIC Re along with the government is considering to raise funds through issue of fresh equity shares and divesting a portion of the paid up capital of the reinsurer out of the government's shareholding of 100% in the domestic market through an IPO, it said. "Proposals are invited by 1500 hours on July 11, 2017 from reputed category I registrars, having a valid contract, with experience and expertise in public offering viz IPO/follow on public offer/offer for sale in the capital market, to act as registrar to the issue," it added.

General Insurance Corporation of India Declares Dividend

General Insurance Corporation of India has declared a dividend of INR 10,020 million for the year, which is a 17% increase over the previous year.

Government To Dilute 25% Stake In General Insurance Corporation Of India

General Insurance Corporation of India is expected to hit the market by the end of this financial year and they have already appointed five merchant bankers for the issue. The government will dilute 25% stake in the insurer over the next three years.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
March 16, 2017
Dena Bank
 

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