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Incorporated in 1972, the General Insurance Company (GIC) is a private company limited by shares that comes under the Companies Act of 1956. The company controls, supervises and carries out business related to general insurance.

The Indian Government with Nationalisation took over the shares of 55 insurance companies of India along with the undertakings of 52 insurers relating to general insurance business. But soon as the GIC came into existence, the government of India transferred all shares it had of the general insurance companies to the company. Along with this, the nationalised undertakings were transferred to Indian insurance companies.

GIC on October 11, 2017 offered to issue Initial Public Offer with this the company went ahead to become the third biggest in the Indian history after Coal India and Reliance Power to do so.

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gic News

gic Re net profit up 3% on better underwriting margins

TNN / May 26, 2026, 22:36 (IST)

Southwest Airlines opens first gic outside US in Hyderabad with plans to hire 1000 techies

May 21, 2026, 02:00 (IST)

Southwest Airlines opens first gic outside US in Hyderabad with plans to hire 1000 techies

May 20, 2026, 19:54 (IST)

Gujarat govt to discuss WFH option with industries, corporates: Minister

May 14, 2026, 00:48 (IST)

DGP Asks Cops To Expand Use Of Technology In Policing Matters, gic Begins Carpooling

Falling boulder crushes car in Nainital, 25 families evacuated

May 05, 2026, 23:14 (IST)

Tallital Residents Block Highway Over Delayed Safety Action

Within minutes of OpenAI raising more than $4 billion from investors; Anthropic announces partnership with Blackstone, Hellman & Friedman and Goldman Sachs to form …

TIMESOFINDIA.COM / May 05, 2026, 08:05 (IST)

AI giants OpenAI and Anthropic are intensifying their competition by launching new ventures aimed at boosting enterprise AI adoption. Both companies have secured significant funding from major financial institutions to help businesses integrate their AI tools into daily operations. This strategic move prioritizes real-world usage and revenue growth as both firms reportedly explore public listings.

Skyroot becomes India’s first spacetech unicorn, 4th in 2026

TNN / May 08, 2026, 07:15 (IST)

Skyroot Aerospace becomes India’s first space-tech unicorn; valued at $1.1 billion

TNN / May 07, 2026, 09:38 (IST)

Skyroot Aerospace has achieved unicorn status by raising $60 million at a $1.1 billion valuation, becoming India's first space tech unicorn. Co-led by Sherpalo Ventures and gic, the funding will accelerate Vikram-1 launches, scale manufacturing, and develop Vikram-2. This investment underscores global confidence in India's private space sector.

Hyderabad’s Skyroot Aerospace becomes India’s 1st space tech unicorn

TNN / May 08, 2026, 04:31 (IST)

Skyroot Aerospace has achieved unicorn status, valued at $1.1 billion after raising $60 million. This funding propels India's first private orbital rocket, Vikram-1, closer to launch. The capital will scale production and develop future rockets, marking a significant leap for India's burgeoning private space sector and its global ambitions.

First appellate authority has no powers to impose cost: gic

Apr 28, 2026, 01:52 (IST)

Gujarat: 11 out of 27 govt depts have not submitted PAD certificates

Apr 23, 2026, 01:39 (IST)

PSU insurers anchor pool to extend sea trade cover, commitments top $100mn

TNN / Apr 21, 2026, 08:36 (IST)

Daughters of driver, gardener defy odds in Uttarakhand Class 12 success

TNN / Apr 26, 2026, 05:12 (IST)

Rs 2.3 crore paid to hit-and-run victims in NTR district

Apr 18, 2026, 00:09 (IST)

Strait of Hormuz disruption impact: India considers dedicated Rs 1,000 crore war-risk cover to support insurers

TIMESOFINDIA.COM / Mar 19, 2026, 13:03 (IST)

According to a government official, multiple options are under consideration, with any decision on establishing such a facility likely to be taken only after the Strait of Hormuz route reopens.

Last day to subscribe gic Re's IPO; issue subscribed 90% on Day 2

TIMESOFINDIA.COM / Oct 13, 2017, 10:50 (IST)

Today is the last day to apply for the initial public offering (IPO) of the state-run reinsurer General Insurance Corp (gic) of India. The Rs 113.73 billion ($1.75 billion) IPO of the company was subscribed 90 per cent by the second day of the sale on Thursday.

Indian gics to play active role in biz growth: Study

TNN / Apr 20, 2017, 01:30 (IST)

gic to buy 49% stake in Provenance Land for over Rs 1,000 crore

TNN / Aug 23, 2018, 04:00 (IST)

Singapore’s sovereign wealth fund gic will acquire a 49 per cent stake in Provenance Land, the developer that introduced the Four Seasons brand in India, for over Rs 1,000 crore.

Expansion on mind, gic Re poised to buy South Africa’s Saxum

ET Bureau / Apr 24, 2014, 13:54 (IST)

gic Re, the sole Indian reinsurer, is set to acquire South Africa's Saxum Re.

Sadhguru to launch gic 5.0 tomorrow

Jun 15, 2022, 08:13 (IST)

Sadhguru will kickstart ‘Green India Challenge 5.0’ at Shamshabad on Thursday. The Green India Challenge (gic), launched with an aim to improve green cover and save environment, is entering its fifth year.