GIC Re is currently considered to be the world’s 14th reinsurer. According to Alice G. Vaidyan, the group’s general manager, the doubling of the turnover from 2.5 billion USD to 5 billion USD stands as the objective for the next three years.
This growth will be achieved by targeting high potential markets such as the BRICS in addition to the most of Latin America and the former Soviet republics.
These markets exhibit growth rates comprised between 10% and 15%. Meanwhile, GIC Re is not ruling out acquisitions. Indian reinsurer has also opened offices in London, Dubai, Malaysia, Moscow and South Africa.
Very soon, an antenna will be established in Brazil.
Finally, still according to G. Vaidyan, GIC Re will be represented in China and the United States within two years.