India: GIC Re plans to establish natural catastrophe disaster pool

General Insurance Corp. of India is planning to form a natural catastrophe disaster pool for insuring the country's population against natural disasters, The Hindu Business Line reports.

General insurers will underwrite the standard cover but it will eventually be moved to the proposed pool.

A.K. Roy, GIC Re's chairman and managing director, said Swiss Re Ltd., SCOR S.E. and Munich Reinsurance Co. are among global reinsurers that have shown interest in being part of the pool.

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