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Member, Beacon International Group, Ltd.
General Insurance Corp. of India registered a 21.4% growth in gross premium in 2016 financial year, reported Business Standard.
The reinsurer's total gross premiums for the year amounted to 184.36 billion Indian rupees ($2.8 billion). GIC Re's net profit totaled INR 28.48 billion. Alice G Vaidyan, chairman and managing director of GIC Re, said the reinsurer would concentrate on newer segments like cyber liability and agri-insurance next year. GIC Re is also looking to enter the Lloyd's of London syndicate.