India, May 24 -- The reinsurance business is undergoing complex and evolving market landscape with multiple challenges driven by catastrophic events. General insurance Corporation of India was set up in 1972 by the Government of India to supervise the Indian general insurance industry.

GIC is a national reinsurer with a global footprint providing reinsurance support to life and non-life insurers and leads reinsurance programmes of many African, Middle East and South Asian countries. GIC has a net worth of US $9.75 billion with total assets of US $ 21.39 billion . GIC is ranked 10th largest global reinsurance group as per rating agency in terms of gross premium accepted. The company was listed on major stock exchanges of India with majori...