Reinsurance company GIC Re has secured the10th position among the top 40 global reinsures in a grading done by Standard & Poor’s. The grading is based on premium booked during FY 2018. The company has registered a top line growth of 24.5% during FY 2018 recording premium of Rs 417.99 billion and surpassed 2 global reinsurers to achieve 10th position. Its growth in Gross Premium Income was 9.3 % at a premium of Rs187.91 billion for the quarter ended 30 June 2018. Alice G. Vaidyan, CMD of the company, said she assumed the position of CMD with clear goals of entering the league of top 10 global reinsurers and simultaneously setting the corporation on the path of sustainable underwriting profitability. This is of course apart from GIC Re setting up own syndicate in Lloyd’s of London, she added.
