GIC unveils global expansion plans

General Insurance Corporation of India (GIC) is devising an
aggressive expansion plan to develop a bigger international
presence fuelled by rapid growth in its home market and its
forthcoming IPO.
The Indian (re)insurer is listing a 14.22 percent stake in the
business later this year, with local media expecting the deal to
raise around $1bn.
The book runners for the offering are Citigroup, Axis Capital,
Deutsche Bank, HSBC and Kotak.
In its IPO documents, GIC has disclosed plans to establish...