• Business

    GIC Re: ‘Results show we are sailing in the right direction’

    State-run reinsurer General Insurance Corporation of India is working to improve its bottomline. In an interview with BusinessLine, Devesh Srivastava, Chairman and Managing Director, GIC Re, says the reinsurer is looking to grow its life portfolio and working on small-ticket products for the retail market. Edited excerpts: GIC Re did well last year. What is the strategy going forward? The strategy for the last couple of years has been to look at the bottomline because the top line was fine. Our investments were bailing us out all these years but that is not sustainable. Our shareholders were also demanding at every quarterly meet that we should start making a profit in operations. So we decided to turn the…