close
This ad will auto close in 10 seconds

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

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

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.