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As a sole reinsurer in the domestic reinsurance market, GIC Re provides reinsurance to the direct general insurance companies in the Indian market. GIC Re receives statutory cession of 4% on each and every policy subject to certain limits. It leads many of domestic companies’ treaty programmes and facultative placements. GIC Re’s capacity for each class of business on Treaty and Facultative basis for domestic business is given in the following table

Class Capacity
Property INR 40,000 mln. any one risk i.e. INR 4000 cr any one risk
Energy USD 100 million per risk
Marine Hull - $ 100 million. any one vessel
Cargo $ 100 million. Any one policy/sending
Engineering INR 25,000 mln. Sum Insured i.e. INR 2500 cr Sum Insured
Miscellaneous INR 2500 million. Sum Insured
Liability INR 2500 million per occurrence
Spares INR 250 million..
Health INR 2500 million.
Agriculture/Weather Insurance (Domestic) INR 4,000 crores on Sum Insured/PML basis.
Motor & Workmen Compensation INR 35 Crores (Facultative)
INR 100 Crores (Treaty)

Capacity indicated above is per risk absolute maximum

Aviation

DOMESTIC
HULL LIABILITY
AIRLINES US$ 30 Mln US$ 150 Mln
GENERAL AVIATION US$ 25 Mln US$ 175 Mln
TREATY- Proportional US$ 8 Mln Any One Treaty
TREATY- NonProportional US$ 7.5 Mln Any One Programme

Life Re

Type Capacity Offered
Proportional/Facultative INR 60 crores per Life
Non-Proportional/Facultative INR 135 crores

As GIC Re spreads its wings to emerge as an effective reinsurance solutions partner for the Afro-Asian region and has started leading the reinsurance programmes of several insurance companies in SAARC countries, South East Asia, Middle East and Africa. To offer its international clientele an easy accessibility, efficient service and tailor made reinsurance solutions; GIC has opened liaison/ representative/ branch / subsidiary offices in UK, Russia, UAE, Malaysia, South Africa and Brazil. GIC also has an offshore branch in GIFT City, Gujarat. GIC provides following capacities for Treaty and Facultative business on risk emanating from the international market based on merits of the business.


Capacity Offered

GIC Re offers the following Underwriting Capacities to its international clientele.

Property

Type On PML Basis Sum Insured
Facultative US $ 20 million US $ 50 million
Treaty US $ 4 million US $ 10 million

Engineering

Type On PML Basis Sum Insured
Facultative US $ 20 million US $ 50 million
Treaty US $ 4 million US $ 10 million

Marine Hull, Cargo & Offshore Energy (per risk)

Type Cargo Hull Energy
Facultative $ 12.5 million $ 12.5 million $ 100 million
Treaty $ 12.5 million $ 12.5 million $ 10 million

Aviation

INTERNATIONAL
HULL LIABILITY
AIRLINES US$ 15 Mln US$ 125 Mln
GENERAL AVIATION Int (other than SAARC) US$ 7.5 Mln US$ 50 Mln
GENERAL AVIATION SAARC US$ 10 Mln US$ 150 Mln
TREATY- Proportional US$ 8 Mln Any One Treaty
TREATY- NonProportional US$ 7.5 Mln Any One Programme

Liability

Type Limit of Liability basis (Claims made basis covers)
Facultative US $ 10 million
Treaty Proportional US $ 6 million
Non-Proportional US $ 8 million

Miscellaneous

Type Miscellaneous S I Basis
Facultative US $ 20 million US $ 50 million
Treaty US $ 4 million US $ 10 million

Motor (SI)

Type Motor
Facultative US $ 5 million
Treaty US $ 10 million

Life Re

Type Capacity Offered
Proportional/Facultative USD 8 Mln per Life
Non-proportional USD 18 mln

Agriculture/Weather Insurance

Type Capacity Offered
Agriculture/Weather Insurance (Foreign) USD 50 mln on Sum Insured basis and USD 25 mln on PML basis

Domestic Reinsurance Business

As a sole reinsurer in the domestic reinsurance market, GIC provides reinsurance to the direct general insurance companies in the Indian market. GIC receives statutory cession of 5% on each and every policy subject to certain limits. It leads many of domestic companies’ treaty programmes and facultative placements. GIC’s capacity for each class of business on Treaty and Facultative basis for domestic business is given in the following table.

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International Reinsurance Business

A GIC is spreading its wings to emerge as an effective reinsurance solutions partner for the Afro-Asian region and has started leading the reinsurance programmes of several insurance companies in SAARC countries, South East Asia, Middle East and Africa. To offer its international clientele an easy accessibility, efficient service and tailor made reinsurance solutions; GIC has opened liaison/representative/branch offices in London and Moscow. GIC provides following capacities for Treaty and Facultative business on risk emanating from the international market based on merits of the business.
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Training / Life

Training is an investment for the future and an essential tool for success. It not only increases productivity but also motivates and inspires people.

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GIC Re - Dubai Branch

GIC Re - Malaysia Branch

GIC Re - UK, London Branch

 

GIC of India – Dubai Branch

 
Classes of Reinsurance Business Types
Property Treaty
Casualty Facultative
Marine  
Energy  
 
Jurisdiction/Area of Operation:
Middle East Region (Bahrain, Cyprus, Iran, Iraq, Jordan, Kuwait, Lebanon, Oman, Palestine, Qatar, Saudi Arabia, Syria, United Arab Emirates, Yemen, Algeria, Egypt, Libya, Morocco, Sudan and Tunisia)
Capacities:
Treaty
Type S.I. (USD) PML (USD)
Other than Aviation 10,000,000 4,000,000n
Facultative
Type S.I. (USD) PML (USD)
Other than Aviation 50,000,000 20,000,000
Energy 50,000,000  
     
 
Address:
Office # 202, RHS Building
Khalid Bin Walid Road, Bur Dubai
P.O. Box #119156, Dubai, UAE

Tel:+97143936611 (Board)
Fax: +97143936672
e-mail: gicre[at]gicdubai[dot]com
 

GIC of India - Labuan Branch (IS2010106), Malaysia

 
Classes of Reinsurance Business Types
Non Marine: Fire, Engineering, Miscellaneous accident, Motor Treaty
Marine: Cargo & Hull Facultative
Offshore: Oil & Energy  
Health  
Agriculture  
Liability  
Retakaful  
 
Jurisdiction/Area of Operation:
ASEAN Region – Brunel, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Phillippines, Singapore, Thailand and Vietnam
Capacities:
Treaty: Conventional & Retakaful
Type Sum Insured (USD) PML Basis (USD)
Non Marine USD 2 Million USD 4 Milion
  USD 2.5 Million USD 4 Milion
Facultative
Type Sum Insured (USD) PML (USD)
Non Marine USD 50 Million USD 20 Milion
Marine USD 2.5 Million
 
Address:
GIC Re, Kuala Lumpur Office,
A-18-1,18-17, Level 18, Menara UOA Bangsar,
5 Jalan Bangsar utama 1,
Kuala Lumpur – 59000, Malaysia
Tel: +603 22820670 & 603 22011328 (Direct)
Fax: +603 22820680
E-mail: Treaty:treaty[at]gicmalaysia[dot]com[dot]my
Fac: fac[at]gicmalaysia[dot]com[dot]my
Claim: claims[at]gicmalaysia[dot]com[dot]my
Account/settlement: accounts[at]gicmalaysia[dot]com[dot]my
 

GIC of India – UK, London Branch

 
Jurisdiction/Area of Operation:
UK & Europearn Union Countries (excluding Turkey & Former Soviet Union Countries), Caribbean Islands, Mexico, Brazil and Argentina
Capacities:
Treaty
Type S.I. (USD) PML (USD)
Other than Aviation 10,000,000 4,000,000
Aviation Businessn 500,000 any one acceptance
Facultative – Other than Aviation
Type S.I. (USD) PML (USD)
Non Marine Property 50,000,000 20,000,000
Energy 30,000,000
Facultative – Aviation
Type Any One Hull (USD) Liability Any One Occurance (USD)
Airline General Any one Hull (USD) 10 million Liability any one occurrence (USD) 100 million
Aviation Any one Hull (USD) 10 million Liability any one occurrence (USD) 100 million
Key Persons:
Mr. N. Ramaswamy, Deputy General Manager
Address
40 Lime Street, 9th floor,
London EC3M 7AW
Tel: +44 (0)20 7663 5665
Fax: +44 (0)20 7283 3869
E-mail: Treaty: London[at]gicuk.com
 
 

Ranked 15thLargest Global Reinsurer Group(compiled by A M Best)