General Insurance Corp

GIC Re, New India Assurance extend rally; surge up to 40% in one month

On Monday, shares of General Insurance Corporation hit a fresh 52-week high at Rs 182.65, up 10 per cent; New India Assurance rallied 8 per cent.

Profit-led rally in GIC may fizzle out sans turnaround in underwriting biz

Unless the underwriting business starts looking up, brokerages are reluctant to give a buy call on the stock despite the recent rally

Non-life insurers not keen on paying obligatory cession to GIC Re

The obligatory cession was reduced from 5% to 4% for 2022-23. The impact of the reduction on GIC Re will be Rs 2,000 crore

GIC Re part of Rs 500-crore insurance pool to cover imports from Russia

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

Irdai sets up committees through GIC to suggest industry overhaul

These panels have been formed to look into areas of regulation, products, distribution, finance, health, finance, taxation, ease of doing business, among others

LIC, GIC, New India Assurance systemically important insurers: IRDAI

The three insurers have also been asked to raise the level of corporate governance, identify all relevant risks and promote a sound risk management culture, IRDAI said in a statement

General Insurance Corp reports Q1 net loss of Rs 497 cr as premiums decline

Government-owned GIC Re has reported a consolidated net loss of Rs 497 crore in the first quarter of the current financial year as against a net profit of Rs 192 crore in Q1 FY20

Govt plans to reduce its stake in New India Assurance and GIC Re

Plan to merge, list three insurers scrapped for now

GIC Re IPO receives 79% subscription so far on first day

The offer for sale comprises 10.75 crore shares by the Union government

GIC Re files for IPO, may raise over $1 bn

Will issue 124.7 mn shares comprising 14.22% of capital