Page 2 - Gic Re

New India Assurance, GIC Re hit 20% upper circuit on privatization buzz

As on December 31, 2020, the government held 85.78 per cent stake in GIC RE, and 85.44 per cent holding in the New India Assurance Company.

Irdai maintains 5% obligatory cession to GIC Re in FY21, fixes commission

Obligatory cession is the part of the business, or premium, that general insurers are required to cede on every policy sold to GIC Re

Irdai says LIC, GIC Re, New India are too big to fail, need more control

The three are seen as key players to deal with systemic risks and moral hazard issues, have been told to raise corporate governance levels and promote a sound risk management culture

Top headlines: Vodafone wins case against govt, Harley in talks with Hero

From Vodafone International winning arbitration case against govt to Election Commission announcing Bihar poll dates, Business Standard bring you top news of the evening

GIC Re reports 7.8% drop in pre-tax profit at Rs 1,101 cr in Q4FY20

Net profit of the reinsurer jumped 98 per cent to Rs 1,197 crore in Q4FY20 compared to 603 crore in the same period a year ago due to lower tax provisions

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

GI Council urges IRDAI for easier MTM rules to take on Covid-19 disruption

Wants regulator to allow companies to consider MTM losses as on Feb 29, instead of March 31 for the purpose of drawing up the P&L accounts

GIC Re's size and monopoly not helping it attract investors' attention

Despite being the largest player in the domestic reinsurance industry, weak fundamentals cap the stock's appeal

GIC Re hikes premiums for property insurance segment under fire portfolio

The impact of increase in premiums for individual insurers will be different, depending on the kind of risk they are participating in

Hines Real Estate in talks with GIC, CapitaLand to sell Mumbai property

Deal size likely to be Rs 2,000 crore

Operating profitability the Achilles' heel for GIC; stock rises 8%

Bringing down combined ratio to below 100 a tough task

GIC settles insider trading case with Sebi, pays Rs 1.23 cr as remittance

GIC filed a settlement application with the regulator "without admitting or denying the findings of fact and conclusions of law, proposing to settle the defaults" and remitted the settlement amount

GIC Re posts net loss of Rs 707 crore in Q2 as insurance claims rise

The company said it wrote gross premium of Rs 9,511.91 crore during the quarter, higher than Rs 8,656.75 crore a year ago period

GIC Re, New India Assurance soar 20% in range-bound market

The general insurance industry in September grew by almost 40 per cent to Rs 19,047 crore.

GIC Re's Vaidyan at no. 47 among Fortune's 50 most powerful businesswomen

A 30-year veteran of the insurance industry, she has a graduate degree in English and diploma from the Harvard Business School

GIC-RE eyes global footprint with entry into Lloyd's trading in April

SAARC region's largest re-insurer names seasoned Lloyd's market practitioner as Active Underwriter; targets 60:40 domestic to international biz ratio

Insurance firms continue to disappoint: GIC Re ends 1.5% lower on debut

General Insurance Corporation (GIC Re) made a lackluster stock market debut on Wednesday as its shares fell as much as 14.5 per cent during the session. The state-owned reinsurer's shares closed at Rs 898 apiece, down Rs 14 or 1.5 per cent from the initial public offering (IPO) issue price. The poor performance of GIC Re post listing is in-line with its three listed peers - ICICI Prudential Life, SBI Life and ICICI Lombard which have registered similar performance post listing.Market participants say, this poor performance was majorly due to dilemma in the markets about how these companies should be valued. Usually, analysts use parameters like price-to-earnings (P/E) and return on equity (RoE) to evaluate a non-banking company. For banks, price to book is usually considered a benchmark criterion. However, insurance is a relatively new sector in the listed space and hence investors are yet to grip a way to asses these stocks."It is difficult to have a fixed benchmark to value ...

State-run GIC Re slumps 14.5% on market debut

After raising Rs 11,176 crore in the country's biggest initial public offering in seven years

GIC Re to be listed on NSE today

The insurance and reinsurance industry is the latest to join the palette of choice for equity investors in recent times

GIC Re to be listed on NSE on Wednesday

The insurance and reinsurance industry is the latest to join the palette of choice for equity investors in recent times