General Insurance Corporation of India information
Indian public sector Insurance company
General Insurance Corporation
Company type
Public
Traded as
BSE: 540755 NSE: GICRE
Industry
Insurance
Founded
22 November 1972; 51 years ago (1972-11-22)
Headquarters
Mumbai
,
India
Number of locations
Dubai, Kuala Lumpur, London, Moscow[1]
Area served
Worldwide
Key people
Ramaswamy Narayanan (Chairman-and-Managing Director effective October 1, 2023)[2]
Services
Reinsurance
Revenue
₹47,751 crore (US$6.0 billion) (2023)[3]
Operating income
₹8,040 crore (US$1.0 billion) (2023)[3]
Net income
₹6,907 crore (US$860 million) (2023)[3]
Total assets
₹162,731 crore (US$20 billion) (2023)[3]
Owner
Government of India (85.78%)[4]
Number of employees
449 as on 31 March 2023
Subsidiaries
GIC Re South Africa Ltd (100%)
Website
gicofindia.com
General Insurance Corporation of India Limited, (abbreviated as GIC Re), is an Indian public sector reinsurance company, headquarters in Mumbai, India. It was incorporated on 22 November 1972 under Companies Act, 1956. It was the sole nationalised reinsurance company in the Indian insurance market until the insurance market was open to foreign reinsurance players by late 2016 including companies from Germany, Switzerland and France. GIC Re's shares are listed on BSE Limited and National Stock Exchange of India Ltd.
^"Overseas Offices". Archived from the original on 1 June 2016. Retrieved 2 July 2016.
^"Board of Directors". General Insurance Corporation of India. Retrieved 21 October 2011.
^ abcd"General Insurance Corporation of India Ltd. Financial Statements". gicofindia.com.
^Nair, Remya (17 March 2021). "Why Modi govt is expected to struggle to sell stakes in 2 listed insurance companies". ThePrint. Retrieved 9 February 2023.
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Global Information
₹47,751 crore (US$6.0 billion) (2023)[3]