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GIC Re South Africa Ltd, wholly owned subsidiary of GIC Re India, Johannesburg South Africa

Rated BB plus global and zaAAA national by S and P

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

Director 1	Director 2
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

Name	Position
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 (SI Basis)	Facultative
Class of Business	PML Basis	SI Basis	Treaty Non-Prop (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 (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	No data available
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	No data available
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