GENERAL INSURANCE CORPORATION OF INDIA
Name of The Post:
Finance Charterered Accounts
GIC Re, the ‘National Reinsurer of India’ is a 11th largest Reinsurance Company in the world with the network in India and abroad, is looking for Graduates / Post Graduates in the disciplines mentioned below to fill-in the positions of 44 Officers in the cadre of Assistant Manager (Scale-I) to be posted in Head Office, Mumbai and will be liable to be posted anywhere in India as well as abroad as per the requirement of the Corporation. GIC Re being B2B Company having its Head Office in Mumbai and liaison offices at Delhi, Chennai and GIFT CITY, Gandhi Nagar. Candidates desirous of making a career in Mumbai may only apply. To know more about GIC Re, go through the details on the website www.gicofindia.in Applications are invited from Indian Citizens for recruitment of 44 Officers in the cadre of Assistant Manager (Scale I) from the open market.
Number of the posts:
Finance Charterered Accounts : 15
General : 15
Legal : 04
Insurance : 10
Basic Pay Rs.32,795/- per month in the scale of Rs.32795 -1610(14) – 55335 -1745(4) – 62315 and other admissible allowances like DA, HRA, CCA, etc. The total emoluments will be about Rs.65,000/-p.m. plus other benefits which are New Pension Scheme and Newspaper /Internet Allowance, Leave Travel Subsidy, Medical Benefits, House Furnishing Allowance, Household Help Allowance, Sodexo, Personal Accident cover, housing, vehicle and computer loans with subsidized interests, and interest free advances for festival, natural calamities and any other benefits as per rules and on confirmation of service in the Corporation. The officers are also entitled for Corporation’s / leased accommodation as per norms. (Presently Corporation owned accommodations are not available, whereas lease accommodation will be permitted as per norms). The present lease accommodation limits at Mumbai is Rs.30,000/- per month.
Finance Charterered Accounts : Graduation in any discipline with minimum 60% marks for General & OBC candidates (55% for SC/ST candidates) and candidates should have passed the Final examination of Institute of Chartered Accountants of India. Candidates should provide their membership number and the same will be verified with Institute of Chartered Accountants of India.
General : Graduation in any discipline with minimum 60% marks for General & OBC candidates (55% for SC/ST candidates).
Legal : Bachelor’s Degree in Law recognized by Bar council of India for the purpose of enrolment as an Advocate with a minimum of 60% marks for General & OBC candidates (55% for SC/ST candidates).
Insurance : Graduation in any discipline with minimum 60% marks for General & OBC candidates (55% for SC/ST candidates) and candidates should possess Post Graduate Degree/diploma in General Insurance/ Risk Management/ Life Insurance/ FIII/ FCII.
About Organization :
The entire general insurance business in India was nationalized by General Insurance Business (Nationalization) Act, 1972 (GIBNA).The Government of India (GOI), through Nationalization 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 nationalized undertakings were transferred to Indian insurance companies. 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 was renotifies as the Indian Reinsurer and through administrative instruction, its supervisory role over the four subsidiaries was ended. With the General Insurance Business (Nationalization) Amendment Act 2002 (40 of 2002) coming into force from March 21, 2003; GIC ceased to be a holding company of its subsidiaries. The ownership of the four erstwhile subsidiary companies and also of the General Insurance Corporation of India was vested with Government of India.
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