About GIC

GIC-Bhutan Reinsurance Company Limited was incorporated on 16th May 2013 under the Companies Act 2000 of the Kingdom of Bhutan. The company was licensed to carry on General Reinsurance business on 12th August 2013 under Financial Services Act 2011. The Company was formally launched on the 5th of September 2013, by the Hon’ble Finance Minister of Bhutan and His Excellency, the Indian Ambassador to Bhutan. GIC-Bhutan Reinsurance Company Limited is a Joint Venture Foreign Direct Investment (FDI) company with an initial paid-up capital of Nu. 500 Million and with the issue of rights share in the financial year 2020 it was enhanced to Nu. 1,100 Million. It is promoted by General Insurance Corporation of India (GIC Re) holding 26% share and two Bhutanese promoters Dasho Sangay Wangchuk holding 17% share and Aum Damchae Dem holding 12% share respectively. The remaining 45% is in the hands of the public.