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rank-13Ranked 13thLargest Global Reinsurer(compiled by A M Best)

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Subsidiary Company

Subsidiary Company

Gic Africa
Rated GIC

GIC Re South Africa Ltd is a 100% owned subsidiary of General Insurance Corporation of India (GIC Re) which is owned by the Government of India. GIC Re South Africa was established by acquiring South African composite reinsurer Saxum Re in 2014 to cater to Reinsurance needs of Africa continent, especially South Africa. The core business philosophy of GIC Re SA includes reinsurance capacity development in Africa, application of the state of art technology, mutually beneficial relationships, benchmarking reinsurance and service delivery mechanism and a professional attitude.

The company is rated BB+ (Global) and zaAAA (National) by S&P. GIC Re South Africa Ltd is backed by an unconditional and irrevocable parental guarantee from its parent, GIC Re India.

The company underwrites business from the entire African continent except Egypt and Libya. Today, GIC Re South Africa is a major reinsurance player in South African market and continues to grow in the region.

Board of Directors

 
Mr. Devesh Srivastava
Non-Executive Director
Mr. Jonathan Bagg 
Chairman
Ms. Madhulika Bhaskar
Non-Executive Director
Mr. Sanjay Bhikha 
Non-Executive Director
Adv. Cassim. I. Moosa 
Non-Executive Director
 

Management Team

 
Mr. Sanjeev Shankar
Chief Operating Officer
Mr. Chandan Verma Chief Underwriting Officer
Mr. Ajinkya Tamhane Chief Risk Officer
Mr. Nilesh Kasture Chief Finance Officer & In-charge for HR
Mr. Rahul Venkatrao Ugile Chief Technology Officer
Mr. Wilson Mwase Company Secretary & Manager Admin
Ms. Angeline Chinyamunzore Chief Technical Account Officer
 

Classes of Business and Capacities

 
Class of Business Treaty Prop Treaty Non-Prop Facultative
  PML Basis SI Basis SI Basis PML Basis SI Basis
Property
(Fire & Engineering)
USD 8 M USD 20 M USD 50 M USD 8 M USD 50 M (Max. line of 50%)
Miscellaneous
Incl. Health & PA
USD 4 M USD 10 M USD 20 M USD 12.5 M USD 25 M
   
  SI Basis
Motor USD 10 M USD 10 M USD 5 M
   
Marine  
Cargo USD 5 M USD 5 M USD 5 M
Hull USD 4 M USD 4 M USD 4 M
Energy USD 2.5 M USD 2.5 M USD 25 M
   
Liability
On Limit of Liability Basis
USD 3 M USD 4 M USD 5 M
Agriculture USD 15 M USD 15 M USD 15 M
PVT (Political Violence and Terrorism) USD 3 M USD 5 M USD 6 M
   
Aviation  
Airline (Hull) USD 2 M USD 2 M USD 7.5 M
Airline (Liability) USD 2 M USD 2 M USD 75 M
General Aviation (Hull) USD 2 M USD 2 M USD 5 M
General Aviation (Liability) USD 2 M USD 2 M USD 50 M

Contact GIC Re SA

GIC Re South Africa Ltd
Riviera Rd Office Park,
First Floor - Block C,
6-9 Riviera Road,Houghton,
Johannesburg 2193
Telephone: +27 (0) 11 877 0760
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Visit GIC Re SA

Website: http://www.gicresa.co.za/

 

Email

REINSURANCE DEPARTMENT: This email address is being protected from spambots. You need JavaScript enabled to view it.

FINANCE DEPARTMENT: This email address is being protected from spambots. You need JavaScript enabled to view it.

ACCOUNTS DEPARTMENT: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Ranked 13thLargest Global Reinsurer(compiled by A M Best)