3rd March 2016 04:24 PM | |
Kiran Chandar | 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. |
3rd March 2016 04:22 PM | |
Unregistered | 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 |
11th July 2015 10:43 AM | |
Quick Sam | 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 |
10th July 2015 08:35 AM | |
Unregistered | 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?? |