GIC Re definition

GIC Re means General Insurance Corporation of India, which has invited the bids for investors relations services and with which the selected Agency signs the Contract for the services and to which the selected Agency shall provide services as per the terms and conditions and Terms of Reference (TOR) of the contract.
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GIC Re has the meaning set forth in Section 1.07(a).
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GIC Re s Representatives‟ shall mean any Site - In Charge or any Clerk of Works appointed from time to time by GIC Re to perform the duties set forth in Clause 16 hereof whose authority shall be notified to the Architects and Contractor by the GIC Re.
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Examples of GIC Re in a sentence

  • Apart from reinsurance business, GIC Re continues to participate in the share capital of Kenindia Assurance Company Ltd.

  • After investigation depending upon the gravity of the misconduct, Vigilance department may send their report to CMD GIC Re who may place it before the standing Committee (as specified in 5.5 (ii) above) The Committee shall examine the report and give its comments / recommendations within 21 days of receipt of the reference to the CMD GIC Re.

  • If the CMD GIC Re, after consideration of the matter including the recommendation of the Investigating Department, if any, decides that it would not be in the interest to continue business dealings pending investigation, it may suspend business dealings with the Agency.

  • If CMD GIC Re considers that depending upon the gravity of the misconduct, it would not be desirable for GIC Re and all its offices and Subsidiaries to have any dealings with the Agency concerned, an order suspending business dealings may be issued to all the offices of GIC Re, including Branch, Liaison and Representative offices by the CMD GIC Re, a copy of which may be endorsed to the Agency concerned.

  • GIC Re has been selected as the Manager for Nat Cat Pool promoted by the Federation of Afro-Asian Insurers & Reinsurers (FAIR) GIC Re is financially strong as reflected by its high grade ratings from credit rating agencies.

  • During the year 2013-14, the net premium of the GIC Re was ` 13213 crores as against ` 13771 crore in the previous year.

  • An agent who is not registered with GIC Re shall apply for registration in the prescribed Application – Form.

  • If any claim is made / lodged during this time, the same shall be binding and continue to be valid despite the lapse of this pact as specified above, unless it is discharged / determined by CMD of GIC Re.

  • GIC Re deals with Agencies (which term shall include Bidders/ Vendor(s)/ Agency(ies)/ Contractor(s)/ Sub- contractor(s) if any, etc.), who have a very high degree of integrity, commitments and sincerity towards the work undertaken.

  • Internationally, GIC Re leads the reinsurance programmers of insurance companies in SAARC region, African countries and in the Middle East.


More Definitions of GIC Re

GIC Re or “Corporation” means General Insurance Corporation of India, constituted under the General Insurance Business (Nationalisation) Act 1972, which has invited the bids for consultancy services, and with which the selected consultant signs the contract for the services to be rendered and to whom the selected consultant shall provide services as per the terms and conditions and terms of reference of the contract.
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GIC Re means ‘General Insurance Corporation of India’.
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