General Insurance Corporation (GIC Re) witnessed an impressive surge of over 8% in its shares, driven by a significant management change appointing Suresh Savaliya as the company secretary, compliance officer, and key managerial personnel, succeeding Satheesh Kumar, deputy general manager, effective from December 11.
As of 11:09 am, the shares continued their upward momentum, trading 6.36% higher at ₹324.35. Over the past month, GIC Re’s stock has experienced a remarkable rally of more than 47%, propelling its market capitalization to surpass Rs 57,700 crore. This surge can be attributed to the reinsurer’s stellar financial performance, credit rating upgrade, and optimistic outlook.
