Post Covid, health segment seeing the maximum amount of growth: Ramaswamy Narayanan, GIC RE

economictimes.indiatimes.com:

Ramaswamy Narayanan, CMD, GIC RE, says, “our business has been doing well. We have managed to post very good results for 2022-2023 and we are continuing that forward in the current year for the last two quarters as well. Further, we have also got a credit rating boost from US credit rating agency, AM Best, since we are an international company doing business in over 150 countries we need a credit rating from an international agency. In our case, it is AM Best and they have boosted our credit rating as well.”
There is a massive re-rating going on in the entire insurance space. It was started by private sector insurance companies in the last two, three days. Even the public sector enterprises, insurance and reinsurance companies are getting completely re-rated. The view in the market and the industry is that there could be policy making plus some impetus coming in which could improve volumes. What are your thoughts on the way business momentum is at your end?
We are doing well. I guess maybe the interest coming forward now is based on the fact that the insurance industry is doing well now as well as maybe the understanding of what this industry is all about is also happening in the market. From GIC's perspective, our business has been doing well. We have managed to post very good results for 2022-2023 and we are continuing that forward in the current year for the last two quarters as well.

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Further, we have also got a credit rating boost from US credit rating agency, AM