Evidence of actuarial hiring: IRDAI-registered insurer (Appointed Actuary required) (source). Checked 10 Nov 2026.
About GIC Re
General Insurance Corporation of India, known as GIC Re, is India's state-owned national reinsurer. It was set up in 1972 as the holding company of the nationalised general insurers and became a dedicated reinsurer in 2000, when those insurers were separated from it. It has been listed on the NSE and BSE since 2017, with the Government of India as majority owner, and IRDAI treats it as a domestic systemically important insurer.
GIC Re is headquartered at Suraksha in Churchgate, Mumbai. It receives obligatory cessions from Indian general insurers and writes treaty and facultative reinsurance across fire, engineering, marine, motor, health, agriculture, aviation and life. Outside India it has branches and offices including London and Dubai, and it also operates from GIFT City.
The actuarial department in Mumbai handles treaty pricing, reserving, IFRS 17 work and solvency reporting. For an actuary it offers a view of the whole Indian market, including large crop and health portfolios, plus international business.
What the actuarial team does
- Pricing of proportional and excess-of-loss treaties for Indian and overseas cedants
- Reserving and IBNR for a large multi-line portfolio, including crop and health
- IFRS 17 implementation and Ind AS reporting
- Solvency, capital and statutory returns to IRDAI under the Appointed Actuary
- Retrocession programme analysis and catastrophe accumulation monitoring
- Data and reporting in Excel, SQL and actuarial software
How students get in
GIC Re recruits officers through public notifications on gicre.in/en/recruitment, usually for Assistant Manager (Scale I) posts across several streams. Actuarial posts have appeared in some recruitment rounds, with eligibility tied to a degree and a set number of actuarial papers cleared; the exact count changes by notification, so read the current one. Selection is by online examination and interview, and age limits and reservation rules apply as in other public sector recruitment. GIC Re also hires experienced actuaries when needed. A standing internship programme for actuarial students is not published.
Roles this employer has advertised:
Questions students ask
How many papers does GIC Re ask for?
It depends on the recruitment notification. Actuarial posts have required a degree and a stated number of papers; read the current notice on gicre.in, because the count changes.
What does the actuarial team do?
Treaty pricing, reserving, IFRS 17 work and solvency reporting for GIC Re's Indian and overseas business, based at the Mumbai head office.
How do freshers get in?
Through the public Scale I officer recruitment, with an online exam and interview, when actuarial posts are included. A standing internship scheme is not published.
