GIC is on the mood of a worldwide expansion

The Indian reinsurance company General Insurance Corporation is on the mood of a worldwide expansion. It has just acquired 15% stakes from the capital of the Kenyan reinsurer East Africa Re for the sum of 2 million USD. On the Indian market, the compulsory cession rate from which GIC benefits goes down from 15% to 10%.
According to GIC leaders, this decrease will be offset by the increase in the direct market premiums.