| General Insurance Corporation of
India or GIC is the designated national reinsurer in the Indian market. In addition to providing capacity and protection yo local insurance
companies, GIC also is one of the leading reinsurer in the Afro Asian Region.
GIC is a wholly owned venture of the Government of India. It is
rated A excellent by the A M Best, having a net worth of US$ 683 million and fixed asserts
worth US$ 2.5 billion as at 31st March 2003
Capacities offered by the GIC are mentioned in a nutshell below
Foreign Inward
Business (other than Aviation) |
| Type |
Capacity PML |
Capacity sum insured |
| Facultative Business |
US$ 20 million |
US$ 50 million |
| Treaty Business |
US$ 4 million |
US$ 10 million |
|
| |
| |
Aviation
Business |
| Type |
Hull |
Liability |
Spares |
| Facultative Business |
US$ 5 million |
US$ 30 million |
US$ 5 million |
| Treaty Business |
US$ 300,000 |
US$ 10 million |
|
|
In addition to the GIC, other Public Sector Insurance
Companies viz. New India Assurance Co. Ltd., Oriental Insurance Ltd., United India
Insurance Co. Ltd., and National Insurance Co. Ltd. are inclined to accepting facultative
and proportional treaties.
|
.gif){kind=small}
.gif){kind=small}
.gif){kind=small}
.gif){kind=small}
