October 24, 2016 9:24 PM ET


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...


170 Jamshedji Tata Road


Mumbai,  400 020


Founded in 1972


91 22 2286 7000


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, Secretary and Member of Ethics Committee (Management)
Compensation as of Fiscal Year 2016.

General Insurance Corporation of India Key Developments

General Insurance Corporation Mulls Acquisitions

General Insurance Corporation of India is looking for acquisitions. The company's Chairman and Managing Director, Alice G Vaidyan said, the company is open for inorganic growth including acquisition opportunities in strategic markets namely the Asian region.

The Central Government Owns Seven General Insurers Mulls IPO

General Insurance Corporation of India, The Oriental Insurance Company Limited, The New India Assurance Co. Ltd., United India Insurance Co. Ltd., National Insurance Company Limited, Agriculture Insurance Company of India Limited and Export Credit Guarantee Corporation of India Ltd. is looking to list its shares through an public offer. United India Insurance Company Ltd has taken a preliminary decision to list its shares through a public offer raising around INR 15 billion, said top officials. "The Board has taken a view to list the shares and rise around INR 15 billion. This is the first step and not the final step. The owner central government has to take the final call on the matter," the officials told on the condition of anonymity. "We have not decided on the share capital and the premium at which the shares are to be listed," they added. Presenting the 2016-17 budget, Finance Minister Arun Jaitley said "Public shareholding in government owned companies is a means of ensuring higher levels of transparency and accountability. To promote this objective, the general insurance companies owned by the government will be listed in the stock exchanges."

New India And GIC Get Board Approval For IPO

The New India Assurance Co. Ltd. and General Insurance Corporation of India have obtained approval from their respective boards for listing of their shares in an initial public offering. With the companies looking at selling around 10-15% of their equity, the government could raise close to INR 10 billion from the sale of shares. "Our board has already approved listing of the shares and we have sent our proposal to the government for approval," said G Srinivasan, Chairman, New India Assurance. He said that he expected the company to go for a listing within six months of the government's approval.

Recent Private Companies Transactions

No transactions available in the past 12 months.

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