General Insurance Corporation of India Ltd. (GIC) was incorporated on November 22, 1972 under the Companies Act, 1956 as a private company limited by shares.  GIC was formed for the purpose of superintending, controlling and carrying on the business of general insurance. As soon as GIC was formed, the Government of India (GOI) transferred all the shares it held of the general insurance companies to GIC. Simultaneously, the nationalised undertakings were transferred to Indian insurance companies.

Business area of the company

The company provides reinsurance across many key business lines including fire (property), marine, motor, engineering, agriculture, aviation/space, health, liability, credit and financial and life insurance. As a sole reinsurer in the domestic reinsurance market, it provides reinsurance to the direct general insurance companies in the Indian market. It receives statutory cession of 5% on each and every policy subject to certain limits. It leads many of domestic companies’ treaty programmes and facultative placements. As it spreads its wings to emerge as an effective reinsurance solutions partner for the Afro-Asian region and has started leading the reinsurance programmes of several insurance companies in SAARC countries, South East Asia, Middle East and Africa. To offer its international clientele an easy accessibility, efficient service and tailor made reinsurance solutions; GIC has opened liaison/ representative/ branch / subsidiary offices in UK, Russia, UAE, Malaysia, South Africa and Brazil. GIC also has an offshore branch in GIFT City, Gujarat. GIC provides following capacities for Treaty and Facultative business on risk emanating from the international market based on merits of the business.

General Insurance Corporation of India

The New India Assurance Company Ltd.

Star Health and Allied Insurance Company Ltd.

ICICI Lombard General Insurance Company Ltd.

ICICI Prudential Life Insurance Company Ltd.

HDFC Life Insurance Co Ltd.

SBI Life Insurance Company Ltd.

Life Insurance Corporation of India

HDFC Bank Ltd.

ICICI Bank Ltd.

ITC Ltd.

Reliance Industries Ltd.

Tata Motors Ltd.

Market Cap	25,342 Cr		EPS	24.6		High	149.9
Stock P/E	5.9		Net Profit Margin	23.3		Low	142.7

GICRE