Record performance for GIC Re

General Insurance Corporation of India (GIC Re) published its financial results as at March 31, 2016. The Indian reinsurer posted a net profit of 429 million USD. The company's turnover, for its part, rose to 2.77 billion USD, up by 21.4% compared to the previous year.

Note that GIC Re generates 55% of its business in the local market. Present in London, Moscow, Malaysia, Dubai and South Africa, GIC Re is considered as the 14th global reinsurer. It enjoys an A- rating (excellent) issued by A.M.Best.

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