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Old February 25th, 2017, 11:00 AM
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Default Re: General Insurance Corporation of India Notes

The General Insurance Corporation of India (GIC), an open part venture, was additionally the biggest non-life coverage organization and one of the biggest money related foundations in India. GIC used to offer non-disaster protection items and related administrations. In 2001, GIC reported a gross direct premium1 wage of Rs 107.72 billion.

By April 2002, GIC had a total assets of Rs 23 billion. GIC had been working through its four auxiliaries - National Insurance Company Limited, New India Assurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company Limited till December 2000. GIC and its auxiliaries had a system of more than 4,208 workplaces in India and their client interface included operators, advancement officers and representatives at its branch, divisional and local workplaces of its four backups.

The organization had a workforce of 85,000. GIC additionally worked in the global markets in more than 30 nations

GIC offered an assortment of non-disaster protection strategies in the fire, marine, robbery, and different random portions. It likewise offered medical coverage through its Mediclaim approach

While a portion of the approaches offered by GIC, similar to engine protection, were required, others were planned only for particular fragments - for example, the provincial protection, which included protection cover for cabins, cows and domesticated animals, hens and harvests.

In November 2000, with the progression of the protection business, GIC turned into a national reinsurer - the official body for undertaking reinsurance business for all private and government associations in the protection business.
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