GIC Re optimist as to the development potential in the region

From its Dubai subsidiary, GIC Re has underwritten almost 385 million USD of premiums in the Middle East in 2012, that is an increase of 11% over one year. The Indian reinsurer intends to develop its activities by integrating new talents in their teams, by improving its infrastructure and its customer service.
Life insurance, which accounts for 20% of the premiums’ volume in the region, is a target for GIC which is keen on offsetting the inadequate development of the takaful portfolio. Founded in 2007, the Dubai subsidiary accounts for 44% of the turnover underwritten abroad by the Indian reinsurer.