In which year was General Insurance Corporation of India incorporated as a company?

Question

Question

This question was previously asked in

SSC GD Constable Previous Year Paper (Held on: 7th December 2021 Shift 2)

Answer 1

The correct answer is 1972.

Key Points

The Ministry of Finance, Government of India, owns General Insurance Corporation of India Limited.
It is a central public sector organization.
On November 22, 1972, it was incorporated under the Companies Act of 1956.
GIC Re has its registered office and headquarters in Mumbai.
Up until the Indian insurance market was opened to foreign reinsurance players in late 2016, including firms from Germany, Switzerland, and France, it was the only nationalized reinsurance company operating there.
Shares of GIC Re are traded on the National Stock Exchange of India Ltd. and BSE Limited.
Devesh Srivastava is the Chairman-and-Managing Director of GIC.