Govt unlikely to privatise GIC Re at this stage: CMD Ramaswamy Narayanan

Chairman and Managing Director of General Insurance Corporation of India (GIC Re) Ramaswamy Narayanan expects the stake sale of about 10 per cent in the public sector reinsurer to begin after the general elections. In an interview with Harsh Kumar, Narayanan says the company’s business from Gift City will substantially increase in the coming days. Edited excerpts:

 Do you think the complete privatisation of GIC Re can happen in the future?

Whether the government would be open to privatising us, my take is no, simply because we are the only public sector company in this sector, currently. We don't even have any