General Insurance Corporation of India has informed the Exchange regarding 'In Principle Approval For Infusion Of Funds Into The Corporation S Labuan (Malaysia) Branch'.
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General Insurance Corporation of India (GIC Re) has received in-principle approval from its Board of Directors to infuse USD 49 million (approximately Rs 469 crore) into its Labuan (Malaysia) branch. The capital infusion is intended for solvency restoration and is in line with the Insurance Capital Adequacy Framework guidelines set by the Labuan Financial Services Authority (LFSA). The Board meeting was held on 15th May 2026 and lasted about an hour. The final infusion is contingent upon receiving necessary regulatory approvals and completing requisite formalities.
This capital infusion strengthens the solvency position of GIC Re's overseas branch, ensuring regulatory compliance in Malaysia. While it involves outflow of funds from the parent company, it is a positive regulatory development that addresses a compliance requirement and may support the company's international operations.