Published on Atlas Magazine (https://www.atlas-mag.net)

Home > Printer-friendly

GIC Re South Africa

Tweet [1] [2]
Magazine Issue: 
Earthquake: natural disaster and risk management [3]
Magazine date: 
Mar 2023
GIC Re South Africa
DATE OF CREATION: April 2014, Johannesburg, South Africa
CLASS OF BUSINESS: Non life
MAIN UNDERWRITING ZONE: South Africa

GIC Re South Africa : contact

Adress: Riviera Rd Office Park, 1st Floor - Block C, 6-9 Riviera Road, Houghton, Johannesburg 2193, South Africa
Tel: +27 11 877 0760
Email: info [at] gicresa [dot] co [dot] za
Website: www.gicresa.co.za [4]

GIC Re South Africa : rating

AgencyRatingOutlook
Standard & Poor’sBB+ (international)Stable
Standard & Poor’szaAAA (national)Stable

GIC Re South Africa : main indicators

in thousands USD
 31/03/202131/03/2022
Turnover78 31998 610
Shareholder's equity92 624107 456
Net result2 07412 123

GIC Re South Africa : Turnover 2021 by class of business

in thousands USD
 PremiumsIn %
Property damage52 85053.59%
Motor14 67414.88%
Third party liability10 53910.69%
Marine5 5245.6%
Engineering5 2285.3%
Accident & health5650.57%
Miscellaneous risks (1)9 2309.37%
Total98 610100%

(1) Including agriculture risks and caution

GIC Re South Africa : capital and shareholding

ShareholderIn %Share capital
GIC Re India100%78 768 000 USD

GIC Re South Africa : technical ratios

 31/03/202131/03/2022
Net loss ratio33.36%54.94%
Net management expenses ratio119.07%92.34%
Net combined ratio152.43%147.28%

GIC Re South Africa : management

Jonathan BaggChairman of the board
Sandip KarmarkarGeneral manager and CEO
Sanjeev ShankarChief operating officer
Chandan VermaChief underwriting officer
Nilesh KastureChief finance officer
Ajinkya TamhaneChief risk officer

Exchange rate as at 31/03/2021 : 1 ZAR = 0.06701 USD ; as 31/03/2022 : 1 ZAR = 0.06897 USD

Source: GIC Re & KPMG

Read also | Reinsurance in Sub-Saharan Africa [5]

GIC Re logo
Mon, 06/03/2023 - 12:19

Source URL: https://www.atlas-mag.net/en/article/gic-re-south-africa

Links:
[1] https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Fgic-re-south-africa&text=GIC+Re+South+Africa
[2] https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Fgic-re-south-africa&source=Atlas Magazine&mini=true
[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-199-march-2023
[4] https://www.gicresa.co.za/
[5] https://www.atlas-mag.net/en/article/reinsurance-in-sub-saharan-africa