2019 2020 Student Forum

2019 2020 Student Forum (https://management.ind.in/forum/)
-   Main Forum (https://management.ind.in/forum/main-forum/)
-   -   Features of General Insurance Corporation of India (https://management.ind.in/forum/features-general-insurance-corporation-india-187514.html)

Unregistered 10th July 2015 09:05 AM

Features of General Insurance Corporation of India
 
Hello, I am looking for the details regarding the Features of the General Insurance Corporation of India. So can you please provide me the details regarding this including the contact details of the Corporation so that it may be helpful for me??

Quick Sam 11th July 2015 11:13 AM

Re: Features of General Insurance Corporation of India
 
General Insurance Corporation of India is also known as GIC of India. It is the sole reinsurance company in the Indian insurance market which is headquartered in Mumbai, Maharashtra, India.

It was established on 22 November 1972.

The list of the places where the GIC Re is located:

Mumbai
Dubai
Malaysia
UK, London
Moscow
Delhi Liasion
Chennai Liasion
Kolkata Liasion

You are looking for the details regarding the Features of the General Insurance Corporation of India. So I am providing it to you:

Features:

Domestic Business
International Business
Overseas Offices
Training / Risk Rating Systems
Revenue Account
Good Ratings / Rankings
Tenders

Contact:
"Suraksha",
170, Jamshedji Tata Road,Churchgate,
Mumbai - 400 020
India
Tel.: (Board): +91 22 2286 7000
Email: info@gicofindia.com

Unregistered 3rd March 2016 04:52 PM

Re: Features of General Insurance Corporation of India
 
Sir I want to know about the various features of General Insurance Corporation of India so can you tell me the same

Kiran Chandar 3rd March 2016 04:54 PM

Re: Features of General Insurance Corporation of India
 
GIC Re has its registered office and headquarters in Mumbai

GIC of India (GIC Re) is the only reinsurance company in the Indian insurance market with over four decades of experience.


The entire general insurance business in India was nationalised by the Government of India (GOI)

GIC and its subsidiaries had a monopoly on the general insurance business in India until the landmark Insurance Regulatory and Development Authority Act (IRDA Act) of 1999 came into effect on 19 April 2000

It plays an important role in the economic development of the country. It provides long term loans to the industries. GICI also helps towards the creation of infrastructural facilities in the country.

Features of GIC

GICI promotes social security in the country.

It sells various policies to mitigate the risks involved in the social sector. It provides opportunity to take insurance at a reasonable cost.

It remains engaged in spreading awareness about general insurance throughout the country. It has been functioning very actively and efficiently to spread the insurance business.

GICI provides financial assistance to industries issue shares and debentures of corporate sector.

In November 2000, GIC was renotified as India's Reinsurer

In 2014 GIC Re has been assigned National Scale ‘AAA’ Reliability Rating And Global Scale ‘iA-’ Credit Rating by Russian National Rating Agency (NRA).

GICI acts as an underwriter. When corporate organizations issue shams and debenture to the public GICI provides guarantee to subscribe certain number of securities which are not subscribed by public.

GICI actively participates in the share market by acquiring shares and debentures. It also invests in shares of government companies.

GICI undertakes necessary measures to settle the claims of the insured.

GICI provide loans to other financial institution., like HUDOCO. It also purchases shares and debentures of these organizations.


All times are GMT +5.5. The time now is 01:43 AM.

Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.0 PL2


1 2 3