Insurance Awareness - Reinsurance
What role does GIC Re play in the Indian insurance market regarding reinsurance?
What role does GIC Re play in the Indian insurance market regarding reinsurance?
medium Q15 of 15
Step-by-Step Solution
Step 1: Identify GIC Re’s role
GIC Re is the national reinsurer in India, providing reinsurance services to insurance companies to help them manage risk.Final Answer:
It is the national reinsurer providing reinsurance support to Indian insurers → Option BQuick Check:
GIC Re does not act as a primary insurer or regulator; it supports insurers through reinsurance.
Quick Trick: Remember: GIC Re = Government-owned Reinsurer of India.
Common Mistakes:
MISTAKES- Confusing GIC Re with IRDAI or primary insurers like LIC.
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