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Subsidiary Company

GIC Re South Africa Ltd, wholly owned subsidiary of GIC Re India, Johannesburg South Africa
Rated BB plus global and zaAAA national by S and P

GIC Re South Africa Ltd is a 100% owned subsidiary of General Insurance Corporation of India (GIC Re) which is owned by the Government of India. GIC Re South Africa was established by acquiring South African composite reinsurer Saxum Re in 2014 to cater to Reinsurance needs of Africa continent, especially South Africa. The core business philosophy of GIC Re SA includes reinsurance capacity development in Africa, application of the state of art technology, mutually beneficial relationships, benchmarking reinsurance and service delivery mechanism and a professional attitude.

The company is rated BB+ (Global) and zaAAA (National) by S&P. GIC Re South Africa Ltd is backed by an unconditional and irrevocable parental guarantee from its parent, GIC Re India.

The company underwrites business from the entire African continent. Today, GIC Re South Africa is a major reinsurance player in South African market and continues to grow in the region.

Board of Directors

 
Director 1 Director 2
Mr. N. Ramaswamy
Non-Executive Director		 Mr. V. Balakrishna
Non-Executive Director
Mr. Jetho Jhamnani
Executive Director		 Mr. Jonathan Bagg
Independent Non-Executive Director, Chairman
Mr. Sanjay Bhikha
Independent Non-Executive Director		 Ms. Nazley Sallie
Independent Non-Executive Director
Ms. Fundiswa Roji
Independent Non-Executive Director		 -

Management Team

 
Name Position
Mr. Shyjulal K. Palat Chief Finance Officer
Mr. Jetho Jhamnani Managing Director & CEO
Mr. Varun Bhardwaj Chief Operating Officer
Mr. Rahul Goel Chief Technology Officer & Manager HR
Ms. Niharika Suthar Chief Risk Officer & Manager Admin
Mr. Dipan Panja Chief Underwriting Officer
Mr. Wilson Mwase Company Secretary & Compliance Officer
Ms. Angeline Chinyamunzore Chief Technical Accounts Officer
 

Classes of Business and Capacities

 
Class of Business Treaty Prop Treaty Non-Prop
(SI Basis)		 Facultative
PML Basis SI Basis PML Basis SI Basis
Property (Fire & Engineering) USD 8 M USD 20 M USD 50 M USD 8 M USD 50 M (Max. line of 50%)
Miscellaneous (Health & PA) USD 4 M USD 10 M USD 20 M USD 12.5 M USD 25 M
SI Basis
Motor USD 10 M USD 10 M USD 5 M
Marine No data available
Cargo USD 5 M USD 5 M USD 5 M
Hull USD 4 M USD 4 M USD 4 M
Energy USD 2.5 M USD 2.5 M USD 10 M
Liability (On Limit of Liability Basis) USD 3 M USD 4 M USD 5 M
Agriculture USD 15 M USD 15 M USD 15 M
PVT (Political Violence and Terrorism) USD 3 M USD 6 M USD 7.5 M
Aviation No data available
Airline (Hull) USD 2 M USD 2 M USD 7.5 M
Airline (Liability) USD 2 M USD 2 M USD 75 M
General Aviation (Hull) USD 2 M USD 2 M USD 5 M
General Aviation (Liability) USD 2 M USD 2 M USD 50 M

Contact GIC Re SA

GIC Re South Africa Ltd
Riviera Rd Office Park,
First Floor - Block C,
6-9 Riviera Road,Houghton,
Johannesburg 2193
Telephone: +27 (0) 11 877 0760
Email: info[at]gicresa[dot]co[dot]za

 

Visit GIC Re SA

Website: http://www.gicresa.co.za/

 

Email

REINSURANCE DEPARTMENT: reinsurance[at]gicresa[dot]co[dot]za

FINANCE DEPARTMENT: finance[at]gicresa[dot]co[dot]za

ACCOUNTS DEPARTMENT: accounts[at]gicresa[dot]co[dot]za

HR-Ecke

Seite zuletzt aktualisiert am: 12/08/2026
Besucher : 32252177
 

9th rank

Ranked 9thLargest Global Reinsurer Group(Non-IFRS 17 Reporting Reinsurer- compiled by AM Best)

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