General Insurance Corporation of India
NSE: GICRE BSE: 540755
₹390.60
(-0.57%)
Sat, 14 Feb 2026, 03:40 pm
Market Cap685.88B
PE Ratio7.12
Dividend2.56
Finance
Specialty Insurance
24.5KCompany History
1972
- The Corporation came into existence in September by an Act of the Parliament viz., General Insurance Business (Nationalisation) Act, 1972.
- The Corporation underwrites cattle and poultry insurance.
1974
- The company had 4 subsidiaries viz., The National Insurance Co., The New India Assurance Co. Ltd., The Oriental Fire & General Insurance Co. Ltd., and The United India Fire & General Insurance Co. Ltd.
1975
- 3,15,460 No. of Equity and 3,20,766 pref. shares were allotted against the 3rd and final instalment of Rs 6,36,22,641 received from Govt.
- 1 pref. share was issued to Govt.
1976
- 2,05,307 pref. shares were redeemed.
1978
- 3,00,000 pref. shares were redeemed.
1979
- 3,50,000 pref. shares were redeemed.
1980
- 3,75,000 pref. shares were redeemed.
1981
- 3,75,000 pref. shares were redeemed on 30th July.
1982
- Authorised capital was reclassified.
- Two calls of Rs 20 each per share were made on 5,00,000 partly paid equity shares.
- Bonus equity shares in proportion 1:1 were issued.
1986
- 21,50,000 bonus shares were issued in proportion 1:2.
1988
- The Corporation devised a new savings linked long term householders insurance policy.
- A Personal Accident Insurance Policy for visitors in bank premises was introduced.
- A Professional Indemnity-cum-Errors and Omission Liability Policy was introduced for Indian computer software programmers and developers.
1989
- The Corporation introduced a Marine-Cum-Rejection Insurance Cover with reinsurance support on export of marine product at economical rates of premise with effect from 1st April.
1990
- The Corporation introduced a new scheme called Bhavishya Arogya with effect from 1st December.
- A scheme of Voluntary deductibles for petrochemicals risks was introduced from 1st January.
- A revised horticulture/plantation insurance scheme was introduced on an experimental basis from 1st April.
- The Corporation introduced Contract Works Insurance Policy, Civil Engineering Completed Risk Insurance Policy, Marine-cum-erection Insurance Policy and Machinery Insurance Policy.
- GIC Grih Vitta, Ltd. was set up to provide long term finance for construction/purchase of house, flats for residential purposes to individuals with effect from October.
- GIC-Apna-Ghar Yojana proposed to launch new schemes, including Housing repair scheme, bridge loan scheme, Telescopic plan for youngsters and builder's finance scheme.
- The Corporation launched a Mutual Fund in the second half of the year.
1991
- The Corporation introduced Aquaculture Insurance with effect from 1st April.
- GIC-SAFE-1991 and GIC RISE-1991 were launched on 6th February.
- Swift Division was established in April to centralise the foreign inward non-reciprocal acceptance of Indian General Insurance Industry.
- A tailor made insurance programme for large industrial clients was finalised by GIC.
- 43,00,000 bonus shares were issued in proportion 3:2.
1993
- 107,50,000 bonus shares were issued in proportion 1:1.
1994
- Overseas Mediclaim Insurance and the Corporate frequent travellers policy were revised effective 1st July.
1996
- The Corporation introduced a Jan Arogya Bima Policy on 12th August for common people.
2000
- The Insurance Regulatory and Development Authority served notices to four subsidiaries of General Insurance Corporation for breach of tariff charges to consumers.
2001
- GIC Mutual Fund appointed a new chief executive, Mr Thomas, who was Senior Vice-President at GIC MF.
2018
- The Company has issued Bonus Shares in the Ratio of 1:1.
2020
- GIC Re gets license from Bank of Russia for reinsurance biz.
2021
- GICRE receives reaffirmation in credit ratings.
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Pocketful Fintech Capital Private Limited (CIN U65999DL2021PTC390548) | The SEBI Registration No. allotted to us is INZ000313732. NSE Member Code: 90326 | BSE Member Code: 6808 | MCX Member Code: 57120 DP | CDSL: 12099800