General Insurance Corporation of India
The President of India, acting through the Ministry of Finance, Government of India, sold 8,77,20,505 shares of General Insurance Corporation of India for ₹3100.04 Cr at ₹353.40 apiece in an offer for sale, decreasing its stake from 82.40% to 77.40%. This transaction was conducted to comply with minimum public shareholding norms.
A state-owned general insurance company, General Insurance Corporation of India operates primarily in the reinsurance sector, providing risk transfer and claims settlement services to insurers across the country. The company plays a key role in India's reinsurance market by enabling insurers to manage exposure to large and catastrophic losses. It supports the broader insurance ecosystem through its specialized reinsurance operations and underwriting expertise.