Q. As part of the reforms process, what transformation did GIC undergo, and what happened to its 4 subsidiaries?

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Q. How many councils does the Insurance Association of India (IAI) have, and what are their names?

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Q. What is the maximum Foreign Direct Investment (FDI) allowed in the insurance sector according to current rules?

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Q. In which year were reforms initiated by the Government, leading to the formation of the Insurance Regulatory and Development Authority (IRDA) and the liberalization of the insurance sector?

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Q. When was the General Insurance Corporation (GIC) formed, and what role was it initially assigned?

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Q. What significant event occurred with the introduction of the General Insurance Business (Nationalisation) Act, 1972?

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Q. In which year was the life insurance business nationalized, leading to the formation of the Life Insurance Corporation (LIC) of India?

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Q. What was the name of the first general insurance company established by an Indian in Bombay in 1907?

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Q. In which year was the first statutory measure introduced in India to regulate the life insurance business?

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Q. Which company, established in Calcutta in 1818, was the first to start life insurance operations in India?

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Q. What empowers the Central Legislature to regulate the insurance industry in India?

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Q. Why was GIC made to operate exclusively in the reinsurance arena?

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Q. How did the Central Government address the relationship between GIC and its subsidiaries in the context of general insurance business and reinsurance?

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Q. What is the role of GIC as the Indian reinsurer according to GIBNA, 1972?

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Q. What significant change did the Insurance Regulatory and Development Authority Act, 1999, bring to the Insurance Act, 1938?

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Q. Why were the four General Insurance companies positioned to promote competition among them?

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Q. How were the Indian insurance companies organized under GIBNA, 1972, after the formation of GIC?

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Q. According to the Act, what role does GIC play in relation to competition among subsidiary companies?

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Q. What are the functions of GIC as stated in the General Insurance Business (Nationalisation) Act?

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Q. According to the General Insurance Business (Nationalisation) Act, 1972, what was the purpose of establishing GIC as a holding company?

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