General Insurance Corporation of India Notified Recruitment of 73 Scale I Officers

General Insurance Corporation of India -- the ‘Indian Reinsurer’, a wholly owned Government of India Company, is 15th largest Reinsurance Company in the world with its network in India and abroad.
GIC Re is looking for Graduates / PG in various disciplines to fill in 73 posts of Assistant Managers (Scale-I) Officers. The positions will be based in its offices in India (primarily in Head Office, Mumbai) and abroad. Interested eligible candidates should apply online till 31 March 2013.


Important Dates:
Last date to apply Online: 31 March 2013
Last date for receipt of applications by post: 8 April 2013
Date from which Admit cards will be available for download: 23 April 2013
Date of Written Test: 5 May 2013
Date of Group Discussion / Interview: Mid June 2013 (tentative)
Date of Joining for Induction Training programme: 1 August 2013

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For Online Application - Click Here

Vacancy details:
Total Vacancies: 73 posts
Name of the post: Assistant Manager (Scale-I)

Sl. No	Discipline / Stream	No of Posts	Qualifications
1	Actuary	4 posts	Graduate (Maths. /Stats.)
2	Agriculture	2 posts	B.Sc (Agri.)
3	Audit	2 posts	B.Com
4	Chemical Engineering	2 posts	B.E / B.Tech (Chemical)
5	Company Secretariat	1 post	Graduate
6	Electrical Engineering	2 posts	B.E/ B.Tech
7	Enterprise Risk Management	2 posts	Graduate
8	Executive PA/ Secretarial	4 posts	Graduate (English)
9	Finance / Accounts	15 posts	B.Com
10	Human Resource Development	3 posts	Graduate
11	Insurance	18 posts	Graduate
12	Information Technology (Software)	4 posts	B.E/ B.Tech (Com.Sci. /Inf .Tech.) / MCA / MBA –IT
13	Information Technology (Hardware / Networking)	2 posts	B.E/ B.Tech (Elect. / Telecom. / Elec & Telecom.)
14	Legal	2 posts	LLB/ BL
15	Medical	2 posts	MBBS
16	Marketing	2 posts	Graduate
17	Statistics	2 posts	Graduate
18	General	4 posts	Graduate

Age limit (as on 1 March 2013): 
Minimum: 21 years
Maximum: 30 years
[Relaxation in upper age limit for SC / ST is 5 years, for OBC (eligible for reservation) is 3 years, & for PWDs is 10 years.]

Pay: Basic Pay Rs.17240 per month in the scale of Rs.17240-840(14)-29000-910-(4)-32640 and other admissible allowances like DA, HRA, CCA, etc.
Total emoluments will be about Rs.32000 p.m. plus other benefits.

Application Fee: Application fee of Rs.500 has to be paid through a crossed DD drawn in favour of ‘General Insurance Corporation of India’, payable at ‘Mumbai’.

SC/ ST/ PH & employees of GIC & GIPSA member companies are exempted from payment of fees.

Selection Procedure: Candidates will be selected on the basis of their performance in the written test, Group discussion & Interview.

The total marks for Written Test, Group Discussion and Interview will be 200. Competitive written examination will be held at 4 centres in India tentatively on 5 May 2013 (Sunday).

Candidates have to choose any one of these centres and indicate in the Application Format clearly.

Centre for Written Test	New Delhi	Mumbai	Kolkata	Chennai
Centre Code No.	01	02	03	04

Scheme of written examination:

PART	Paper	Maximum Marks
Part A (Objective)	Domain Knowledge of relevant stream	40
Part B (Objective)	Test of Reasoning	20
	Test of English Language	20
	Test of General Awareness	20
	Test of Numerical Ability & Computer Literacy	20
Part C (Descriptive)	Test in English Language – Essay, Precis and Comprehension	30

The Part B & Part C of examination shall be common for the candidates of all the streams. The Candidates may exercise option to answer the tests either in Hindi or in English except the test under Part B (ii) and Part C.
Candidates will appear for written tests at their own expenses.

On the basis of performance in written examination, candidates will be called for Group Discussion and Interview. Maximum marks for Group Discussion and Interview are 20 and 30, respectively. Result of final selection, made on overall performance in written examination, Group Discussion and Interview will be notified on GIC Re website.

Outstation candidates called for interview will be reimbursed to and fro second class rail fare/bus fare by the shortest route from the station of the residence to the station of interview on production of evidence.

Appointment of selected candidates will be subject to their being found medically fit.

Service Conditions: Posts are permanent and selected candidates on appointment can be posted / transferred to any place in India and abroad, as and when required. However, initial posting will be in corporate office in Mumbai only.

Probation: Selected candidates will be appointed as Assistant Manager on probation for a period of one year, which may be extended by a further period upto one year. During the probationary period, candidates will be required to undergo theoretical and practical training, if required.

During probation, Officers would be required to pass the non-life “Licentiate Examination” conducted by Insurance Institute of India. Only after passing the said examination the Officer will be eligible for confirmation of his services in the Corporation.

Guarantee Bond: Before joining as probationer, selected candidates will be required to give an undertaking to serve the Corporation for a minimum period of four years including probationary period. In the event of their resignation from the Corporation before the expiry of the bond period, they will be liable to pay liquidated damages equivalent to one year’s gross salary paid to them during the year of probation which could be proportionately reduced depending on the length of service rendered.
Candidates resigning from the Corporation during the probationary period, shall be liable to pay the salary received by them during their entire period of service in the Corporation in addition to an amount of Rs.25000 towards partial cost of training incurred by the Corporation in respect of the candidate.

Admit Cards: Eligible candidates will be intimated by e-mail/smsregarding the written test. On receipt of the e-mail / sms candidates should download their admit card by logging on to. Candidates will have to carry this Admit Card to the examination centre on examination day.

How to Apply: Interested eligible candidates can apply online by logging on the website  till 31 March 2013. On submitting the online application form, candidates’ will receive a/an sms/e-mail on their registered mobile/ e-mail ID with their Application No. and Password. They should retain it for future reference.

After this, candidates’ should take printout of the acknowledgement slip and send it along with the Fee DD and copies of relevant documents by ordinary / speed post to “The Advertiser – GIC Re, Post Bag No 99, GPO Kolkatta, Kolkatta - 700001” so as to reach the given address on or before 8 April 2013.

On the envelope, candidates should super-scribe “Application for the post of Assistant Manager in GIC Re” and Stream /Discipline applied for.

Candidate can apply only for one stream of his / her choice.
All candidates must be computer proficient.
Candidates should retain a photocopy of their Demand Draft and Registration Slip for future reference.

About GIC Re on Wikipedia

General Insurance Corporation of India

From Wikipedia, the free encyclopedia

General Insurance Corporation of India (GIC Re) is the sole reinsurance company in the Indian insurance market with over three decades of experience.

General Insurance Corporation of India
Type	Public-sector undertaking
Industry	Insurance
Founded	November 22, 1972
Headquarters	Mumbai, India
Area served	South Asia Southeast Asia Africa
Key people	A K Roy, Chairman & MD[1]
Services	Reinsurance
Owner(s)	Government of India
Website	www.gicofindia.com

GIC has its registered office and headquarters in Mumbai.

History

The entire general insurance business in India was nationalised by the Government of India (GOI) through the General Insurance Business (Nationalisation) Act (GIBNA) of 1972. 55 Indian insurance companies and 52 other general insurance operations of other companies were nationalized through the act.^[2]

The 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 to control and operate the business of general insurance in India.

The GOI transferred all the assets and operations of the nationalized general insurance companies to GIC and other public-sector insurance companies. After a process of mergers and consolidation, GIC was re-organized with four fully owned subsidiary companies: National Insurance Company Limited, New India Assurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company Limited.

GIC and its subsidiaries had a monopoly on the general insurance business in India until the landmark Insurance Regulatory and Development Authority Act (IRDA Act) of 1999 came into effect on 19 April 2000. This act also amended the GIBNA Act and Insurance Act of 1938. The act along with the amendments ended the monopoly of GIC and its subsidiaries and liberalized the insurance business in India.

In November 2000, GIC was renotified as India's Reinsurer, but its supervisory role over its subsidiaries was ended. This was followed by the General Insurance Business (Nationalisation) Amendment Act of 2002. Coming into effect from 21 March 2003, this amendment ended GIC's role as a holding company of its subsidiaries. The ownership of the subsidiaries was transferred to the Government of India, which in turn divested its stake in the companies through listings on Indian stock exchanges.

As a result of these reforms, GIC became the sole Re-Insurer in India, and is now called GIC Re. Indian insurance companies are required by law to cede 10% of every policy value to GIC Re, subject to some limitations and exceptions. GIC Re has diversified its operations and is now emerging as an important Re-Insurer in SAARC countries, Southeast Asia, Middle East and Africa. GIC Re has also expanded its international operations through branches in London and Moscow.

GIC Re has a rating of A- (Excellent) from A. M. Best for its financial strength.

GIC Re - History in Brief

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 (1) National Insurance Company Limited, (2) The New India Assurance Company Limited, (3) The Oriental Insurance Company Limited, and (4) 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. This act also introduced amendment to GIBNA and the Insurance Act, 1938. An amendment to GIBNA removed the exclusive privilege of GIC and its subsidiaries carrying on general insurance in India.

In November 2000, GIC is renotified as the Indian Reinsurer and through administrative instruction, its supervisory role over subsidiaries was ended.

With the General Insurance Business (Nationalisation) Amendment Act 2002 (40 of 2002) coming into force from March 21, 2003 GIC ceased to be a holding company of its subsidiaries. Their ownership were vested with Government of India.