Insurance Awareness - Reinsurance
What is the primary role of GIC Re in the Indian insurance sector?
What is the primary role of GIC Re in the Indian insurance sector?
easy Q11 of 15
Step-by-Step Solution
Step 1: Understand GIC Re’s function
GIC Re is known as the sole national reinsurer in India, which means it accepts risks from insurance companies to help them manage large exposures.Final Answer:
To act as the sole national reinsurer supporting risk distribution → Option BQuick Check:
GIC Re does not provide direct insurance or regulate companies; its main role is reinsurance.
Quick Trick: Remember: GIC Re = Government’s Insurance Cover Reinsurer.
Common Mistakes:
MISTAKES- Confusing GIC Re with regulatory bodies or direct insurers.
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