PW Bureau
GIC held negotiations with Astana International Finance Centre and discussed a proposal to establish Astana-Re company at the AIFC
New Delhi: General Insurance Corporation (GIC) is eyeing a foray into the reinsurance business in the Eurasia market as it held negotiations with Astana International Finance Centre (AIFC), Central Asia’s emerging financial hub. The meet is said to have focussed on the prospects for cooperation between the AIFC and GIC in business risk reinsurance area. The two sides also discussed a proposal mooted by the Kazakhstan government to establish Astana-Re company at the AIFC. If the plan sees the light of day, it would be the first company in the history of Kazakhstan and Central Asia to reinsure business risks.