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Today General Knowledge(GK)
Which is the sole reinsurance company in the Indian insurance market?
A)
Life Insurance Corporation of India
B)
United India Insurance Company Limited
C)
General Insurance Corporation of India
D)
New India Assurance Company Limited

Correct Answer : Option (C) - General Insurance Corporation of India



As a sole reinsurer in the domestic reinsurance market, GIC(General Insurance Corporation) provides reinsurance to the direct general insurance companies in the Indian market. GIC receives statutory cession of 10% on each and every policy subject to certain limits.

Published On : June 2, 2021
Category : Insurance and Finance
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