India’s GIC Re ready to reinsure Iranian market

News ID: 3947068 -
TEHRAN, Apr. 08 (MNA) – CEO of General Insurance Corporation of India (GIC Re) have voiced readiness to boos ties with Iranian firms by providing the Iranian market with required insurance coverage.

On the sidelines of Management Board Meeting of Asian Reinsurance Corporation (Asian Re) in Bangkok, President of Bimeh Markazi Iran (Central Insurance of IR Iran) Abdolnaser Hemmati met and talked with Mrs. Alice G Vaidyan, Chief Executive Officer of General Insurance Corporation of India (GIC Re).

During the meeting, the two sides sought venues for development of insurance cooperation between Tehran and Delhi.

Given the significance role played by Iran and India in supporting Asian Reinsurance Corporation, the meeting also called for stronger support for the Asian body.

India’s Vaidyan, while pointing to eagerness of GIC to offer necessary insurance services to the Iranian market, expressed her willingness to meet with officials of Iran’s insurance industry.

Mr. Hemmati of Iran, for his part, referred to the need for doing business between the two countries, called for transfer of a portion of risks in the Indian market to the Central Insurance of Iran.

It is worth mentioning that, GIC Re is completely state-owned and remains the largest Indian reinsurance company with over four decades of experience and branches in several countries.

Its premium volume reached 2.8 billion dollars last year it is the world's fourteenth major reinsurer.  

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