Ranked 16thLargest Global Reinsurer Group(compiled by A M Best)
The entire general insurance business in India was nationalised by General Insurance Business (Nationalisation) Act, 1972 (GIBNA).
The Government of India (GOI), through Nationalisation took over the shares of 55 Indian insurance companies and the undertakings of 52 insurers carrying on general insurance business.
General Insurance Corporation of India (GIC) was formed in pursuance of Section 9(1) of GIBNA.
It was incorporated on 22 November 1972 under the Companies Act, 1956 as a private company limited by shares.
GIC was formed for the purpose of superintending, controlling and carrying on the business of general insurance.
As soon as GIC was formed, GOI transferred all the shares it held of the general insurance companies to GIC.
‘Kshitij’ September – December, 2023
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Certificate Forbes 2019 - Best Regarded Companies
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GIC Re sponsors seating benches at railway stations and support ESMs through penury grants as part of its CSR initiatives
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"Suraksha"
170, Jamshedji Tata Road, Churchgate,
Mumbai - 400 020
India