Ranked 16thLargest Global Reinsurer Group(compiled by A M Best)
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
| 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 | |
| Type | Capacity Offered |
|---|---|
| Proportional/Facultative | INR 60 crores per Life |
| Non-Proportional/Facultative | INR 135 crores |
Ranked 16thLargest Global Reinsurer Group(compiled by A M Best)