We've done heavy pruning in crop portfolio: GIC Re chairman & MD Srivastava

We will be looking to prune our portfolio to make GIC Re a healthier entity, said MD Srivastava

With reports of privatisation doing the rounds, shares of GIC Re have gained more than 40 per cent in a fortnight. DEVESH SRIVASTAVA, chairman and managing director, GIC Re, in conversation with Subrata Panda speaks about how the company is consolidating its business to achieve a combined ratio of close to 100 per cent. Edited excerpts:

Reinsurers have raised rates on term plans. Has GIC Re also raised rates in the term portfolio?

We are not rate drivers. Life insurance is a very small fraction of our business — it is about 1 per cent. For life portfolio, there are