Question
Download Solution PDFIn which year was General Insurance Corporation of India incorporated as a company?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is 1972.
Key Points
- The Ministry of Finance, Government of India, owns General Insurance Corporation of India Limited.
- It is a central public sector organization.
- On November 22, 1972, it was incorporated under the Companies Act of 1956.
- GIC Re has its registered office and headquarters in Mumbai.
- Up until the Indian insurance market was opened to foreign reinsurance players in late 2016, including firms from Germany, Switzerland, and France, it was the only nationalized reinsurance company operating there.
- Shares of GIC Re are traded on the National Stock Exchange of India Ltd. and BSE Limited.
- Devesh Srivastava is the Chairman-and-Managing Director of GIC.
Last updated on Jun 26, 2025
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