This company was incorporated on 24th November, 1956 as SWEDISH ATLAS REINSURANCE COMPANY OF SOUTH AFRICA LTD registered with Registrar of Companies at Pretoria under No 56/3037

The ownership changed and this company was renamed as Gerling Global Reinsurance Company of South Africa Ltd 3rd Day of March, 1962.

The ownership was again changed and the company was renamed as Saxum Reinsurance Ltd on the 12th day of November, 2003.

The Saxum Reinsurance Ltd was acquired by General Insurance Corporation of India and renamed as GIC Re South Africa Ltd on the 11th day of August 2014.

GIC Re South Africa Ltd is a Subsidiary owned 100% by GIC Re India (owned by Govt. of India) with a mandate to write inward reinsurance and retrocession business emanating from whole of Africa except Egypt and Libya. GIC Re South Africa Ltd was established in Johannesburg in 2014 with an aim to serve the African Continent. The Company started its operations from January 2015, with a composite license.

GIC Re South Africa Ltd. embarks on vision of becoming and being known as a truly African Reinsurer. Core business philosophy includes a robust governance and risk management framework, application of state-of-art technology, mutually beneficial relationships and redefining service delivery mechanism & attitude in the region. GIC Re South Africa Ltd. continues to be a service delivery differentiator in the region. GIC Re South Africa Ltd.’s strategy is to be known as an indelible and professional African Reinsurer

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