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IRDAI directs LIC to reduce stakes in ITC & L&T to 15%
08-Aug-2017 (09:56)
Indian insurance industry lagging behind in digital investment: Report
08-Aug-2017 (09:42)
IRDAI working with government to create a simple platform for KYC
08-Aug-2017 (09:39)
GIC Re files for IPO, may raise over USD 1 billon
07-Aug-2017 (17:59)

General Insurance Corporation of India Re (GIC) on Monday filed the draft red herring prospectus (DRHP) for its initial public offering (IPO), which bankers have said could raise more than USD 1 billion, as part of the government's plans to list five non-life insurers in which it holds stakes.

GIC Re's filing comes amid a surge in IPOs in Asia's third-largest economy, which has spurred a slew of insurers to pursue listings, including SBI Life Insurance Co Ltd, a unit of State Bank of India.

The government will be selling about 107.5 million shares in GIC Re's IPO, while the insurer will sell 17.2 million new shares, comprising a total 124.7 million, or 14.22 percent of the company's post-issue share capital, according to the filing.

The proceeds would help the government meet its fiscal deficit target of 3.2 percent of gross domestic product for the year ending in March, which includes selling of stakes in companies.

Axis Capital, Citi, Deutsche Bank, HSBC and Kotak Investment Banking are managing GIC Re's IPO.
Insurance companies use health plans to grow numbers
07-Aug-2017 (09:50)
SBI Life Insurance AUM cross Rs 1 lakh crore
05-Aug-2017 (09:42)
Genpact acquires insurance cloud provider OnSource
03-Aug-2017 (16:55)
SBI Life Insurance targets cancer treatment, Unveils health product 'Sampoorn Cancer Suraksh'
01-Aug-2017 (15:49)
Max India pulls out of Max Life-HDFC Life Insurance merger deal
01-Aug-2017 (09:32)
Securities Appellate Tribunal orders 'Status Quo' on IRDAI's Sahara Life directive
31-Jul-2017 (20:19)
FinMin official Ravi Mittal appointed part-time member on IRDAI board
31-Jul-2017 (09:48)
Sahara to challenge IRDAI order on life insurance business transfer to ICICI Pru
31-Jul-2017 (09:30)
LIC posts 145% jump in profit from sale of equities in Q1
29-Jul-2017 (10:14)
Life Insurance Corporation to invest in GIC IPO
29-Jul-2017 (09:56)
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