News - India: GIC lowers reinsurance capacities

May 2011
Asia Insurance Review;May2011, p42
Trade Publication
The article reports that General Insurance Corp. (GIC) of India has lowered its reinsurance capacities. It states that it has offered 50 percent lowered capacities in some cases, fearing higher claims from government-owned non-life insurance companies suffering from underwriting losses. It highlights that apart from this GIC has cut commission and placed strict underwriting conditions on renewals.


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