Aim to maintain dominant market share in India: GIC India

The entry of foreign reinsurers does not pose any threat to our market share is the word coming in from Alice Vaidyan, CMD, GIC Re, India’s largest reinsurer.

According to her, entry of foreign reinsurers will only help increase penetration in the market, new and affordable will come into the market.  

In an exclusive conversation with CNBC-TV18's Yash Jain, Vaidyan also outlined their company's expansion and international diversification plans. She said the company already has branches in London, Dubai, Malaysia, a subsidiary in South Africa and Bhutan. Now they plan to have office in Brazil.

We will diversify foreign business while still maintaining dominant position in Indian insurance market, she said.