New products to cover pandemics are the need of the hour: GIC Re chief

In a Q&A, Devesh Srivastava, the CMD of India's largest reinsurer, also dwells on the moves made to cu losses in the crop segment and Covid-19 impact on his firm, among other things

The largest reinsurer in the country, General Insurance Corporation (GIC Re), does not expect a spike in claim payments from obligatory cessions due to Covid-19, despite the rapid increase in the number of cases. Devesh Srivastava, Chairman and Managing Director of GIC Re, in an interview with Subrata Panda talks about the impact of covid-19 on GIC Re, increase in rates in the property segment, changes they have made to cut losses in the crop segment and the need for products to cover pandemics.

Q: What will be the impact of the Covid-19-driven spike in heath claims be on GIC