General Insurance Corporation of India Share price

The Corporation was incorporated at Mumbai on November 22 1972 as General Insurance Corporation of India a private limited company under the Companies Act 1956. Pursuant to a resolution passed by the Shareholders on February 4 2016 and approval of the Central Government dated January 8 2016 the Corporation was converted into a public limited company with effect from March 7 2016. Consequently the Registrar of Companies Mumbai issued a fresh certificate of incorporation dated March 7 2016 pursuant to conversion of the Corporation from a “private limited” to a “public limited” company dated March 7 2016. the Corporation is registered with IRDAI for carrying on reinsurance business pursuant to the registration certificate dated April 2 2001.Major events and milestones of the Corporation1972-The Corporation was formed pursuant to section 9(1) of GIBNA and also under the Companies Act 1956 as private company limited by shares.1973-The general insurance business in India was nationalized 107 general insurance companies were merged and the Corporation was formed as the holding company with fthe subsidiaries namely New India Assurance Company Limited National Insurance Company Limited Oriental Insurance Company Limited and United India Insurance Company Limited.2000-The Corporation was notified as “Indian Reinsurer”.2002-The Corporation was appointed as manager to the Terrorism Insurance Pool.2003-The Corporation commenced its life reinsurance underwriting activities.-Pursuant to amendments to GIPSA the Corporation ceased to be the holding company for the subsidiaries.2013-The joint venture Reinsurance Company in Bhutan-GIC Bhutan Re Limited became operational.-The Corporation was appointed as Managers of FAIR NATCAT Reinsurance Pool at Beijing China.2014-GIC Re South Africa Limited the wholly owned subsidiary of GIC Re was established in South Africa.2015-India nuclear insurance pool launched.Awards and Accreditations2011-The Corporation won the Marine Insurance Award at Seatrade Middle East and Indian Subcontinent Awards 2011.2012-The Corporation won the Marine Insurance Award second time in a row at Seatrade Middle East and Indian Subcontinent Awards 2012.2014-Marine Insurer of the Year at the inaugural Maritime Standard Awards Middle East and Indian Subcontinent Awards 2014.-ICE Awards 2014 awarded to GIC ReNews (Certificate of Merit).2016-Business Today Most Powerful Women Awards 2016.2017-Reinsurance Company of The Year Award 2017 by ASSCOHAM India.-Skoch Award Resilinet India Award 2017.