GIC Re

According to a representative of India’s national reinsurance company, General Insurance Corporation of India or GIC Re, the company is making progress in its efforts to become the first Indian catastrophe bond sponsor.

India’s national reinsurance company, General Insurance Corporation of India or GIC Re, is continuing to look at catastrophe bonds as a viable addition to its retrocessional reinsurance program, according to its chairman.

India’s national reinsurance company, General Insurance Corporation of India or GIC Re for short, will look to catastrophe bonds as a potential source of risk capital and transfer as it seeks to provide cover for losses and access capital at cheaper rates, according to a report.