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
| 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 |
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 |