GIC Re to be listed on NSE on Wednesday

GIC Re IPO

The insurance and reinsurance industry is the latest to join the palette of choice for equity investors in recent times


LATEST NEWS   :   The IPO received bids for 17,06,99,808 shares against the total issue size of 12,47,00,000 shares, data available with the NSE showed.

GIC Re is all set to emerge among the top 10 global reinsurers and figure among the 40 largest global corporates, both in terms of market capitalisation.

From its current ranking of 12 largest global reinsurer, the company is set to grow to the 10th spot during the current fiscal, given its healthy growth rate, a market source said.

At present, GIC Re is also the 3rd largest reinsurer in Asia.

It is also likely be the second largest Indian entity in the financial sector PSU listed space after SBI, the source added.

Alongside SBI, GIC Re is the country's leading MNC in financial sector with a global presence - it has branches in London, Dubai, Kuala Lumpur and a subsidiary in South Africa.

Analysts point out that diversification is the key in risk management and GIC Re writing business from most parts of the world already has good diversification.

The insurance and reinsurance industry is the latest to join the palette of choice for equity investors in recent times.

"An interesting thing about the industry is that in some ways, it does not follow the economic cycle experienced by all other industries," an analyst said.

Its fortune is more dependent on the man-made and natural disasters witnessed in the country or region where they write business from, he said.


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