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GIC's plans to join Lloyd remain on tenterhooks

Being a part of Lloyd’s would supplement GIC Re vision of becoming a global reinsurer.

October 23, 2013 2:25 IST | India Infoline News Service
General Insurance Corporation of India (GIC Re) plans to be part of specialist insurance market Lloyd’s London in three years is not going to work out unless India opens up the insurance sector further, according to a media report.

Being a part of Lloyd’s would supplement GIC Re vision of becoming a global reinsurer.

However, adding terms and conditions for GIC Re's entry into the Lloyd’s market, Lloyd’s UK said the Indian company can plan to join Lloyd’s only after India allows more foreign investment in the insurance sector, the report added.

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