As a sole reinsurer in the domestic reinsurance market, GIC provides reinsurance to the direct general insurance companies in the Indian market. GIC receives statutory cession of 10% on each and every policy subject to certain limits. It leads many of domestic companies’ treaty programmes and facultative placements. GIC’s capacity for each class of business on Treaty and Facultative basis for domestic business is given in the following table.

A GIC is spreading its wings to emerge as an effective reinsurance solutions partner for the Afro-Asian region and has started leading the reinsurance programmes of several insurance companies in SAARC countries, South East Asia, Middle East and Africa. To offer its international clientele an easy accessibility, efficient service and tailor made reinsurance solutions; GIC has opened liaison/representative/branch offices in London and Moscow. GIC provides following capacities for Treaty and Facultative business on risk emanating from the international market based on merits of the business.

Investments were made within the regulatory framework of Insurance Act, and IRDA Regulations and within corporate policy. The funds of the Corporation are managed in-house.

IRDA regulations stipulates that without prejudice to Section 27 or 27(b) of the Act, every insurer carrying on General Insurance Business shall invest and at all times keep invested his total assets in the following manner.