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40 global reinsurance
groups by S&P Global Ratings

Page last updated on: 05/06/2020
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Domestic

Domestic

As a sole reinsurer in the domestic reinsurance market, GIC Re provides reinsurance to the direct general insurance companies in the Indian market. GIC Re receives statutory cession of 5 % on each and every policy subject to certain limits. It leads many of domestic companies’ treaty programmes and facultative placements. GIC Re’s capacity for each class of business on Treaty and Facultative basis for domestic business is given in the following table

 
Class Capacity
Property INR 15000 million. Any one risk
Energy USD 150 million per risk
Marine Hull - $ 125 million. any one vessel
  Cargo $ 125 million. Any one policy/sending
Engineering INR 15000 million. Sum Insured
Miscellaneous INR 2500 million. Sum Insured
Liability INR 2500 million per occurrence
Spares INR 250 million..
Health INR 2500 million.
Agriculture/Weather Insurance (Domestic) INR 4,000 crores on Sum Insured/PML basis.
Motor & Workmen Compensation INR 35 Crores (Facultative)
INR 100 Crores (Treaty)

Capacity indicated above is per risk absolute maximum

 

Aviation

 

DOMESTIC
  HULL LIABILITY
AIRLINES US$ 35 Mln US$ 200 Mln
GENERAL AVIATION US$ 30 Mln US$ 200 Mln
TREATY- Proportional US$ 4 Mln Any One Treaty  
TREATY- NonProportional US$ 12 Mln Any One Programme  

 

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