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Subsidiary Company

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

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

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	Facultative
	PML Basis	SI 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 Incl. 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
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
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