10-rankRanked 11th Among the top
40 global reinsurance
groups by S&P Global Ratings

Page last updated on: 05/06/2020
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International

International

As GIC Re spreads 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 / subsidiary offices in UK, Russia, UAE, Malaysia, South Africa and Brazil. GIC also has an offshore branch in GIFT City, Gujarat. GIC provides following capacities for Treaty and Facultative business on risk emanating from the international market based on merits of the business.


Capacity Offered

GIC Re offers the following Underwriting Capacities to its international clientele.

 

Property

 
Type On PML Basis Sum Insured
Facultative US $ 20 million US $ 50 million
Treaty US $ 4 million US $ 10 million
 

Marine Hull, Cargo & Offshore Energy (per risk)

 
Type Cargo Hull Energy
Facultative $ 20 million $ 20 million $ 150 million
Treaty $ 20 million $ 20 million $ 20 million
 

Aviation

 

INTERNATIONAL
  HULL LIABILITY
AIRLINES US$ 17.5 Mln US$ 150 Mln
GENERAL AVIATION Int (other than SAARC) US$ 7.5 Mln US$ 75 Mln
GENERAL AVIATION SAARC US$ 30 Mln US$ 200 Mln
TREATY- Proportional US$ 4 Mln Any One Treaty  
TREATY- NonProportional US$ 12 Mln Any One Programme  
 

Liability

 
Type Limit of Liability basis (Claims made basis covers)
Facultative US $ 10 million
Treaty Proportional US $ 6 million
Non-Proportional US $ 8 million
 

Miscellaneous

 
Type Miscellaneous S I Basis
Facultative US $ 20 million US $ 50 million
Treaty US $ 4 million US $ 10 million
 

Motor (SI)

 
Type Motor
Facultative US $ 5 million
Treaty US $ 10 million
 

Life

 
Type Capacity Offered
Proportional 250 million/ US $ 5 million per person
Non-proportional 750 million/ US $ 15 million per treaty
 

Agriculture/Weather Insurance

 
Type Capacity Offered
Agriculture/Weather Insurance (Foreign) USD 50 mln on Sum Insured basis and USD 25 mln on PML basis
 

 

Ranked 11th Among the top
40 global reinsurance
groups by S&P Ranking