GIC Re’s premiums rise more than 50%

Alice Vaidyan, chairman of reinsurer General Insurance Corp. of India, said that GIC Re’s premiums grew about 51% to 240 billion Indian rupees ($3.6 billion) in the first half ended Sep. 30, compared with INR 160 billion in the first half ended Sep 30, 2016, The Economic Times reported. Ms. Vaidyan said that the reinsurer expects more foreign reinsurance premiums to come in for the January renewals. Meanwhile, GIC Re plans to put the Lloyd’s of London Syndicate in place before the end of the fiscal year 2017-18, she added.
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