General Insurance Corporation of India (GIC Re), the national reinsurer, registered a profit after tax of Rs 3,127 crore in 2016-17, an increase of 9.8% over the previous year, largely due to the crop insurance and growth in the investment income. The net worth of GIC Re stood at Rs 47,983 crore as against Rs 38,281 crore, which includes fair value change account registering a growth of 25.3%. Senior officials in the industry stated that if government decides to dilute 25% of the stake in the company, they can raise around Rs 11,995.75 crore from the initial public offering (IPO).
75 years to reach per capita income of $2730, will take only 5 years to add another $2000, FM Sitharaman
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