International

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 Foreign (Fire)

Type On PML Basis Sum Insured
Proportional Treaty USD 8 Million USD 20 million
Non-Proportional Treaty USD 50 Million Per Program
Facultative USD 50 Million USD 100 Million

Engineering

Type On PML Basis Sum Insured
Treaty Proportional USD 8 Million USD 20 Million
Treaty Non-Proportional USD 50 Million Per Program
Facultative USD 50 Million USD 100 Million

Marine Hull, Cargo & Offshore Energy (per risk)

Type Cargo Hull Energy
Facultative $ 12.5 million $ 12.5 million $ 50 million
Treaty $ 12.5 million $ 12.5 million $ 10 million

Aviation

INTERNATIONAL
HULL- MAV Spares - MAV LIABILITY- Occurence HWR- MAV
AIRLINES- Non USA US$ 15.00 Mln US$ 15.00 Mln US$ 75.00 Mln
AIRLINES- USA US$ 7.50 Mln US$ 7.50 Mln US$ 50.00 Mln
GENERAL AVIATION US$ 7.5 Mln US$ 7.5 Mln US$ 50 Mln
TREATY- Proportional US$ 7.50 Mln Any One Treaty
TREATY- NonProportional US$ 12.50 Mln Any One Programme
Aerospace / Manufacturers US$ 75.00 Mln
Aviation PA/LOL Covers (Per Pilot/Crew) US$ 0.50 Mln

Liability

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

Credit

Type Capacity offered
Credit USD 20 million

Miscellaneous

Type PML Basis S I Basis
Facultative US $ 20 million US $ 50 million
Treaty Proportional US $ 4 million US $ 10 million
Treaty Non-Proportional   US $ 25 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

Health (Foreign)

Type Sum Insured Basis
Treaty Sum Insured
Prop US $ 10 Million
Non-Prop US $ 25 Million
Facultative US $ 50 Million
Page last updated on: 04/03/2025
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Ranked 9thLargest Global Reinsurer Group(Non-IFRS 17 Reporting Reinsurer- compiled by AM Best)