GIC Re

These were the same institutions that were identified as DSII in 2021-22

In the past one month, shares of New India Assurance Company (up 30 per cent) and GIC Re (up 18 per cent) outperformed the S&P BSE Sensex, which was up less than 2 per cent during the period

Seeks to revise order of preference while placing reinsurance business

While it will be called the fertiliser pool with a corpus of Rs 500 crore, it can be used to cover the risks of oil and gas imports too

'In the Indian market, the four big businesses are motor, health, fire, and agri'

The General Insurance Corporation of India (GIC Re) closed last year with a higher after tax profit and gross premium income

Currently, Indian general insurers have to cede at least 5 per cent of their business to GIC Re till FY22

The company on Wednesday reported an over four-fold jump in its net profit

GIC Re on Friday reported widening of its standalone net loss to Rs 771.73 crore for the June 2021 quarter on the back of huge underwriting losses.

Government shareholding and preferential regulation have skewed the reinsurer's efficiency and, by extension, that of the non-life insurance industry's too

We will be looking to prune our portfolio to make GIC Re a healthier entity, said MD Srivastava

As on December 31, 2020, the government held 85.78 per cent stake in GIC RE, and 85.44 per cent holding in the New India Assurance Company.

Obligatory cession is the part of the business, or premium, that general insurers are required to cede on every policy sold to GIC Re

The three are seen as key players to deal with systemic risks and moral hazard issues, have been told to raise corporate governance levels and promote a sound risk management culture

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Net profit of the reinsurer jumped 98 per cent to Rs 1,197 crore in Q4FY20 compared to 603 crore in the same period a year ago due to lower tax provisions

In a Q&A, Devesh Srivastava, the CMD of India's largest reinsurer, also dwells on the moves made to cu losses in the crop segment and Covid-19 impact on his firm, among other things

Wants regulator to allow companies to consider MTM losses as on Feb 29, instead of March 31 for the purpose of drawing up the P&L accounts

Despite being the largest player in the domestic reinsurance industry, weak fundamentals cap the stock's appeal

The impact of increase in premiums for individual insurers will be different, depending on the kind of risk they are participating in