As GIC Re makes its first acquisition, the company’s chairman-cum-managing director, Ashok Kumar Roy, tells Intelligent Insurer why Africa is the obvious stepping stone to the company’s expanding international reach.
Known as ‘the Indian reinsurer’, General Insurance Corporation of India (GIC Re) is an acknowledged leader in its sector.
Spearheading the reinsurance programmes of companies in the South Asian Association for Regional Cooperation (SAARC) nations, African countries and the Middle East, and managing the Federation of Afro Asian Insurers and Reinsurers (FAIR) Nat Cat Pool, GIC Re is the preferred reinsurer in the Afro-Asian region.
Now with a string of accomplishments under its belt, such as managing the Marine Hull Pool, the Indian Terrorism Insurance Pool and the Motor Third Party Declined Risk Insurance Pool for commercial vehicles on behalf of the Indian insurance industry, the reinsurer is taking bigger and bolder steps to increase its global footprint.
GIC Re, Africa, Saxum Re, Ashok Kumar Roy