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As a step to broad-base its revenue streams, General Insurance Corporation (GIC Re), the government-owned general reinsurer which has filed a draft red herring prospectus with the Securities and Exchange Board of India (Sebi) for a public issue, plans to increase its income from health insurance, property and life insurance segments.
Currently, 95 per cent of the GIC’s premium income comes from the non-life insurance segment. With non-life premiums seeing a sharp jump in the year ended March 2017, GIC Re registered an 82 per cent growth in income to Rs 33,741 crore from Rs 18,534 crore in 2015-16.
Currently, 95 per cent of the GIC’s premium income comes from the non-life insurance segment. With non-life premiums seeing a sharp jump in the year ended March 2017, GIC Re registered an 82 per cent growth in income to Rs 33,741 crore from Rs 18,534 crore in 2015-16.
