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GIC RE
Fintech firm Ramp's valuation surges to $44 billion on AI-driven growthFintech firm Ramp secured $750 million in funding, valuing the company at $44 billion. This significant jump highlights investor confidence...- Why India’s next real estate cycle could be driven by retail investors and REITs, Sandipan Roy explainsIn an interaction with Sandipan Roy, Chief Investment Officer (CIO), at Motilal Oswal Private Wealth, he explains why India’s next real est...
- India builds insurance shield for risky sea trade as global cover dries upIn response to the challenges posed by renewed hostilities affecting maritime trade, Indian public sector insurers have unveiled an innovat...
- Cabinet clears Rs 12,980 crore maritime insurance pool to cut costsIndia is launching the Bharat Maritime Insurance Pool, backed by a substantial sovereign guarantee of over ₹12,980 crore. This strategic in...
- Irdai keeps FY27 cession rate at 4%, backs GIC Re roleIrdai has maintained the mandatory 4% cession rate for FY27, directing general insurers to place this share with GIC Re. This decision aims...
- West Asia war: Marine war-risk insurance tightens as reinsurers adopt no-market stanceWest Asia war: Reinsurers are pulling back marine war-risk cover amid heightened geopolitical risks after failed US-Iran talks, prompting I...
- Ministries meet to put a cover on ships in war zoneIndian ministries are creating a sovereign-backed insurance plan. A $100 million Bharat Marine Pool is being formed by insurers to cover sh...
- GIC Re shares tumble over 5% as government offloads stake via OFSGIC Share Price: Shares of General Insurance Corporation (Re) of India dropped by 5.4% to Rs 398.60 as the government began selling its 6.7...
- GIC Re's standalone net loss widens to Rs 771 cr in Jun quarterOn a consolidated basis, there was a net loss of Rs 1,039.69 crore during the reported quarter, against Rs 497.07 crore loss a year ago.
- GIC Re posts Rs 1,991 cr profit in FY21The state-owned reinsurer had posted a loss of Rs 186.46 crore in 2019-20.
- GIC Re hits 20% upper circuit limit as government mulls privatisationThe finance ministry and Niti Aayog will together finalise whether the general insurer will be considered for privatisation, a senior gover...
- GIC Re shares zoom over 8% as Q4 net income nearly doublesThe company's net income stood at Rs 603.4 crore in the corresponding period of the preceding fiscal.
- GIC Re reports loss of Rs 1,557 crore for Apr-DecNet premium rose to Rs 38,215.52 crore from Rs 33,221.19 crore, while the earned premium stood at Rs 36,476.66 crore, up from Rs 32,622.80 ...
- GIC Re Q1 net up 98%Combined ratio, which reflects the profitability from core business, remained stable at 99.9 per cent.
- GIC Re's Rs 11,370 crore IPO overall subscribed 1.37 times; retail quota undersubscribedRetail, non-institutional investor, and employee quotas remained undersubscribed.
- GIC Re IPO fully subscribed on strong QIB demand, issue closes todayThe issue received bids for 12,61,97,408 shares, which were 1.01 times the issue size of 12,47,00,000 shares
- GIC Re to raise Rs 11,000 crore via IPOThe issue will help the state-run reinsurer to augment its capital position and expand its business.
- GIC Re files DRHP to raise over Rs 7,000 croreGIC has a net worth of Rs 45,000 crore, including fair value. Valuation of the company will depend on factors such as net worth, combined r...
- GIC Re moves a step closer to IPOGIC Re is expected to divest 10% initially and subsequently raise this to 25% in three years as that is the requirement under the listing n...
- 'Some PSUs not allowing GIC to compete for A/Cs on fair terms'On the other hand, general insurers argue that GIC Re doesn't have enough capacity to provide reinsurance cover to a large corporate on its...
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