Company name: General Insurance Corporation of
India
Website: www.gicofindia.in
Position: Assistant Managers (Scale-I)
Qualification : BE/B.Tech/ B.Com/ MBBS/
Graduates/LLB/MCA
Experience: Freshers
No of Vacancy: 65
Last date of
Apply: 24th Jan, 2015
Company
Profile:
The entire
general insurance business in India was nationalised by General Insurance
Business (Nationalisation) Act, 1972 (GIBNA).
The
Government of India (GOI), through Nationalisation took over the shares of 55
Indian insurance companies and the undertakings of 52 insurers carrying on
general insurance business.
General
Insurance Corporation of India (GIC) was formed in pursuance of Section 9(1) of
GIBNA.
It was
incorporated on 22 November 1972 under the Companies Act, 1956 as a private company
limited by shares.
GIC was
formed for the purpose of superintending, controlling and carrying on the
business of general insurance.
As soon as
GIC was formed, GOI transferred all the shares it held of the general insurance
companies to GIC.
Simultaneously,
the nationalised undertakings were transferred to Indian insurance companies.
After a
process of mergers among Indian insurance companies, four companies were left
as fully owned subsidiary companies of GIC
- National Insurance Company Limited
- The New India Assurance Company Limited
- The Oriental Insurance Company Limited
- United India Insurance Company Limited.
The next
landmark happened on 19th April 2000, when the Insurance Regulatory and
Development Authority Act, 1999 (IRDAA) came into force.
Application
Fees:
Non
refundable amount of Rs. 500/- as
Processing and Examination fees (Candidates belonging to SC/ST category and PH
(OH) candidates and the employees of GIC and GIPSA Member Companies are exempted from the fees).
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