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GIC of India ready to provide Iran insurance market with required coverage

The Managing Director of Indias General Insurance Corporation (GIC) says GIC is ready for further cooperation with Iranian companies to provide required insurance coverage in Irans market.
(SHADA: TEHRAN) -- On the sidelines of the management board meeting of Asian Reinsurance Corporation (Asian Re), Hemmati, the President of Central Insurance of Iran, and Alice Vaidyan, the Chairman of the Board and Managing Director of General Insurance Corporation of India (GIC), negotiated approaches to expand insurance cooperation between the two countries.

Expressing enthusiasm for further cooperation and collaboration to provide Iranian insurance market with required coverage, GIC Chairman announced readiness for visiting Iran and meeting insurance executives.

Hemmati pointed out the significance of mutual business of the two countries, asserting that part of Indian market risks be ceded to the Central Insurance of Iran.

General Insurance Corporation of India is the biggest Indian reinsurer with several branches worldwide. Globally ranked 14th among the top 50 reinsurance Groups in 2016, GIC registered total gross premium of approximately 2.8 billion dollars during the fiscal year 2015-16.