Magazine date:
Apr 2004 The Indian national reinsurer is keen on promoting its international involvement by targeting Afro-asian markets in particular where many international reinsurers reduced or gave up their activities.
In view of this policy, GIC has already opened offices in London and Moscow, and plans to do so in Dubai.
In the United Arab Emirates, GIC is holding talks with two firms to sponsor its presence in the region. In China, GIC plans to open representation offices then create joint ventures with a Chinese partner. The reinsurer aims at achieving a 26% growth of its premium income, and looks poised to rely on its foreign subsidiaries to meet this objective.