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GIC makes Rs 2345 cr profit in FY13, eyes tie-up with Lloyd's

Last Updated: Monday, May 27, 2013, 21:32

State-run General Insurance Corporation (GIC) has reported Rs 2,345 crore net profit in FY13 and has chalked out ambitious expansion plans, including a partnership with Lloyd's of London.

Oil pool plan for Iran crude insufficient, says New India

Last Updated: Wednesday, May 01, 2013, 21:59

As per reports, out of the Rs 2,000-crore pool, half will come from four public sector general insurers along with General Insurance Corporation (GIC Re) and the rest will be contributed by oil companies.

'GIC says no loss due to buying cover from Berkshire'

Last Updated: Tuesday, March 12, 2013, 19:37

Government on Tuesday said it is examining the way in which the state-owned GIC entered into an arrangement with Berkshire Group of USA and its subsequent cancellation within a short period after payment of USD 15.2 million premium towards reinsurance business cover.

Non-life insurers need to be prudent in underwriting risks: GIC

Last Updated: Saturday, August 18, 2012, 14:51

Indian non-life insurers should be careful while underwriting risks as the non-life insurance market is on a high growth path and needs additional capital to support the business, a top official of General Insurance Corporation of India (GIC) said.

Motor, health insurance may cost more

Last Updated: Thursday, February 23, 2012, 16:14

Motor and health insurance may become expensive with the government suggesting that insurers should raise premiums to cover their losses.