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India: GIC Re calls for fairer business practices from major firms

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A.K. Roy, chairman and managing director of General Insurance Corp. of India, has urged some of the country's large state-owned companies to follow fair and unbiased business practices while looking for reinsurance covers, reported The Asian Age.

GIC Re, the country's lone reinsurer, is being restricted from bidding for the accounts of some firms, Mr. Roy added.

The reinsurer has secured reinsurance contracts of only a few state-owned major companies.

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