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GIC Re News

General Insurance IPO

13 Oct 2017

General Insurance IPO oversubscribed

The reinsurance company has fixed the price band at Rs 855-912 for its IPO.

General Insurance IPO

12 Oct 2017

General Insurance IPO subscribed 90% on Day 2

The issue comprises fresh issue of 1,72,00,000 shares by the Corporation and an offer for sale of 10,75,00,000 shares by the promoter.

04 Oct 2017

GIC Re sets Rs 855-912 IPO price band, may scoop up Rs 11,370 crore

The Corporation is likely to become 10th largest reinsurer in the world within a year as it plans to acquire a syndicate at Lloyd's next fiscal.

SBI life insurance IPO

22 Sep 2017

SBI Life's $1.3 billion IPO, India's biggest in seven years, draws strong demand

SBI Life, which will be the second life insurance company after ICICI Prudential Life Insurance Co. Ltd to list, saw bids for about 29.5 million shares, or 3.56 times the 8.8 million shares on offer, stock exchange data as of 1215 GMT showed.

17 Sep 2017

Govt may raise over Rs 15K crore from IPO of 2 PSU general insurers

In view of the current market condition, the government may easily get Rs 15,000 crore by diluting stake in these two companies, sources said, adding it could be upwards of Rs 15,000 crore.

15 Apr 2016

ONGC gets 25% discount on premium from United India, GIC Re

ONGC's hard bargain with state-run United India Insurance and GIC Re has further brought down its annual renewal premium by almost 25 percent to USD 16 million for both insurance as well as reinsurance covers for its offshore assets valued at USD 34 billion.

13 Jul 2015

Interviews for GIC Re, National Insurance CMDs on Wednesday

The Finance Ministry has invited eight senior officials from state-owned general insurers for interview to fill up the two CMD posts in GIC Re and National Insurance Company (NIC) in the national capital on July 15.

30 May 2015

GIC Re FY15 net jumps 20% to Rs 2,694 crore

Backed by better investment income, a dip in claims and lower forex losses, reinsurer GIC Re on Saturday reported a 20 percent rise in net profit to Rs 2,693.72 crore in 2014-15 from Rs 2252.66 crore a year ago.

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