Insurance Awareness - Reinsurance
Which organization acts as the national reinsurer in India for general insurance companies?
Which organization acts as the national reinsurer in India for general insurance companies?
medium Q6 of 15
Step-by-Step Solution
Step 1: Identify the national reinsurer
GIC Re is the national reinsurer providing reinsurance support to general insurance companies in India.Step 2: Analyze options
Life Insurance Corporation of India (LIC) is a life insurer, not a reinsurer. General Insurance Corporation of India (GIC Re) correctly identifies GIC Re. Insurance Regulatory and Development Authority of India (IRDAI) is the regulator, not a reinsurer. New India Assurance Company is a general insurer but not the national reinsurer.Final Answer:
General Insurance Corporation of India (GIC Re) → Option AQuick Check:
GIC Re is well-known as India's national reinsurer for general insurance.
Quick Trick: GIC Re = India's national reinsurer for general insurance.
Common Mistakes:
MISTAKES- Confusing GIC Re with IRDAI or insurance companies.
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