Page 3 - Gic

Non-life insurers get Covid-19 claims worth Rs 10,000 crore as of Dec 11

The insurers have settled 508,334 claims amounting to over Rs 4,800 crore

Have Rs 1,500-crore exposure to four stressed firms,, says GIC Re

General Insurance Corporation of India (GIC Re) said it has exposure totalling Rs 1,453.74 crore in IL&FS group, DHFL, Reliance Capital and Reliance Home Finance as of March 2020 and it has made provisions over and above the regulatory norms. The company's exposure stood at Rs 788.80 crore as of March 31, 2020 by way of investments in debentures of IL&FS group, GIC Re said in its annual report for 2019-20. GIC Re has made total 100 per cent provision on both secured and unsecured portion of these investments, it said. Exposure in bonds of Dewan Housing Finance Ltd (DHFL) was to the tune of Rs 204.80 crore, for which the provisions are 100 per cent on both secured and unsecured portion, the state-owned firm said. In Reliance Capital and Reliance Home Finance, GIC Re had exposure of Rs 365.26 crore and Rs 94.90 crore, respectively, by the end of March 2020. GIC Re said it has made provisions to the tune of 15 per cent on secured portion of investments in Reliance Capital and ...

Will exploit future acquisitions with Singapore-based GIC: Phoenix Mills MD

Shishir Shrivastava, MD of Phoenix Mills, talks about about the rationale behind the new venture with Singapore-based GIC.

StanChart GBS' largest office globally coming up in Chennai's DLF Downtown

Standard Chartered GBS is leasing 770,000 sq ft to set-up its largest office establishment in this project

Govt move to notify GICs as fin services at IFSC to spur MNC investment

Govt move will boost job creation, give a leg-up to social infrastructure in and around Gift City

GIC, TPG to invest about $1 billion in retail arm, says Reliance Industries

GIC will invest Rs 5,512 crore for a 1.22% stake, while TPG Capital will invest Rs 1,838 crore to own a 0.41% equity stake in the retail arm

Singapore's GIC to invest Rs 5,512.5 crore in Reliance Retail Ventures

GIC's investment will translate into a 1.22% equity stake in Reliance Retail on a fully diluted basis.

Singapore's GIC in talks to invest over $100 million in ESR's fund

ESR partnered Allianz Real Estate for a $225-million joint venture that aimed to become a $-billion asset platform

GI Council may move SC to implead itself on standard rates in Covid therapy

Wants govt to prescribe treatment protocol and then fix the rates

BlackRock, three others buy $1.4 billion of Bandhan Bank shares

Bandhan Bank's shares plunged 10.5 per cent on Monday after the transaction, its biggest loss since March 30. They were up as much as 2 per cent on Tuesday

GIC seeks relaxation in regulatory norms as coronavirus hits operations

While insurance firms ignore MTM gains, they are required to recognise MTM losses as expenses

IRB Infra announces receipt of first tranche of Rs 3,753 cr from GIC

The remaining about Rs 650 crore, the company said will be invested in the progress of construction of the under-construction projects

Bengaluru realtor Brigade in talks for strategic investment in hospitality

While Brigade plans to ramp up the number of operating keys in its hospitality business from 1,350 to 2,000 in 24-30 months, it is also looking to add keys beyond 2,000 in the longer run

Global reinsurers miffed at pro-GIC bias, seek level-playing field in India

Many are reluctant to invest financial and human capital in a scenario in which GIC Re enjoys the advantage of right of first refusal in reinsurance contracts

GIC is set to become major office player with Prestige Estates stake buy

With 70 million sq ft, Blackstone and its partners are the largest owners of office properties in the country