GIC wage revision movement

14/08/2026

https://www.google.com/amp/s/www.livemint.com/market/stock-market-news/gic-q1-results-2026-general-insurance-corporation-of-india-profit-jumps-10-yoy-to-1-922-crore/amp-11786610670038.html

General Insurance Corporation of India (GIC), on Thursday, 13 August, reported its profit after tax increased by 9.69% to ₹1,922.04 crore for the quarter ended June 2026 as compared to profit of ₹1,752.23 crore for the quarter ended June 2025.

01/08/2026

DA for PSIC from August 2026 has been increased by 2.10% on Basic salary.

27/07/2026

https://asiainsurancepost.com/archives/82357

Although India's general insurance market has been de-tariffed, allowing insurers to determine their own pricing since Apr 1,2024, the IRDAI reminded companies that premiums must remain aligned with board-approved underwriting policies and prudent risk management practices Hyderabad:Swinging into ac...

21/07/2026

https://psuwatch-com.cdn.ampproject.org/v/s/psuwatch.com/amp/story/newsupdates/only-new-india-assurance-posts-profit-as-three-psu-general-insurers-remain-in-the-red?amp_gsa=1&_js_v=a9&usqp=mq331AQGsAEggAID =From%20%251%24s&aoh=17846470001607&csi=0&referrer=https%3A%2F%2Fwww.google.com&share=https%3A%2F%2Fpsuwatch.com%2Fnewsupdates%2Fonly-new-india-assurance-posts-profit-as-three-psu-general-insurers-remain-in-the-red

01/07/2026

UPDATE FROM CGIT – GICOA'S LEGAL STRUGGLE CONTINUES

Dear GICIANS

GICOA appeared before the CGIT as on 30.06.2026 Management was also represented through its legal counsel.

Management disclose before the Hon'ble Court that it proposes to challenge the CGIT's order before the Hon'ble High Court. However, no copy of any petition or supporting documents was produced or shared to us. on the Management's request, the matter has been adjourned to the next date.

It is unfortunate that instead of resolving the long-pending issues concerning employees through constructive dialogue, the dispute continues to be pursued through prolonged legal proceedings.

The employees of GIC Re are only seeking their legitimate service rights, including the long-pending issue of salary parity with LIC, through lawful and constitutional means. These issues have a direct bearing on employee welfare, morale, and the future of the organisation.

GICOA remains fully committed to pursuing every available legal remedy in the interest of employees. Accordingly, GICOA is also taking appropriate legal steps and will be approaching the Hon'ble High Court on issues concerning the rights of employees and actions that, in our considered view, require judicial scrutiny.

"सत्य परेशान हो सकता है, पराजित नहीं।"

We request all GICIANS to remain united, patient, and confident. Every step taken by GICOA will be firmly based on law, facts, and the collective interest of employees.

United we stand. Justice will prevail.

GIC Officers' Association (GICOA)

25/06/2026

Private insurers cross 70% market share in non-life insurance as PSU players lose ground

https://www.moneycontrol.com/banking/private-insurers-cross-70-market-share-in-non-life-insurance-as-psu-players-lose-ground-article-13957485.html?classic=true

https://www.moneycontrol.com/banking/private-insurers-cross-70-market-share-in-non-life-insurance-as-psu-players-lose-ground-article-13957485.html

18/06/2026

Dear GICIANS,
It is with deep concern that we inform you that the Management of GIC Re has chosen to file a Writ Petition before the Bombay High Court against GICOA and others regarding the long-pending wage revision and employee benefits matter.
This development is both surprising and disappointing. For years, the Management maintained that it was not a party to the wage revision dispute and that the matter rested with the Government and other authorities. However, the filing of this petition clearly indicates that the Management has now taken an active position against the legitimate interests of its own employees.
At a time when GIC Re is reporting record profits and achieving new milestones, it is unfortunate that the Management is opposing improvements in employee wages and benefits. The financial implication involved is less than ₹10 crore annually—barely around 0.10% of GIC Re's profits—yet the Management has chosen the path of litigation instead of supporting the employees whose dedication has contributed to these historic results.
Employees are well aware that our salary structure remains significantly lower than that of our counterparts in LIC and several other financial institutions. Rather than addressing this genuine concern, the present action sends a disturbing message regarding the Management's priorities.
GICOA remains committed to protecting the interests and dignity of all officers and employees. We will continue to pursue every legitimate and legal avenue to secure fair wages, just benefits, and the rights of GICIANS.
*अन्याय के विरुद्ध आवाज़ बुलंद करो,एकता के साथ संघर्ष प्रचंड करो*

GIC Officers' Association (GICOA)

For Information of All GICIANS

18/06/2026

🌹 GICOA Welcomes Shri Hitesh Joshi as CMD of GIC Re 🌹

The GIC Officers' Association (GICOA) extends its heartfelt congratulations and a warm welcome to Shri Hitesh Joshi on assuming charge as the Chairman-cum-Managing Director of GIC Re.

This appointment comes at a crucial juncture in GIC Re's journey, and we are confident that under your dynamic leadership, the organization will continue to scale new heights of excellence, strengthen its global presence, and foster a culture of transparency, inclusiveness, and employee engagement.

GICOA looks forward to working closely and constructively with you in addressing the aspirations of employees and contributing towards the growth and success of our organization.

We wish Shri Hitesh Joshi good health, wisdom, and great success in this important responsibility.

May your tenure be marked by progress, innovation, and shared achievements.

💐 Best Wishes from
GIC Officers' Association (GICOA)

16/06/2026

Shri Hitesh Rameshchandra Joshi appointed as CMD GIC Re

13/06/2026

Dear GICIANS,

Today, the representatives of GIC Officers' Association (GICOA) held a detailed meeting with Dr. Debasish Prusty, Add.Secretary, Department of Financial Services (DFS), along with other senior DFS officials.

During the meeting, various important issues concerning GIC Re and its employees were discussed at length. The delegation highlighted the concerns and expectations of employees and emphasized the need for timely resolution of several pending matters affecting the organization and its workforce.

The DFS officials patiently heard our submissions and assured us of their positive consideration and timely intervention. They also provided valuable guidance and suggestions aimed at strengthening GIC Re and ensuring the overall welfare and growth of its employees.

GICOA remains committed to pursuing all employee-related issues through constructive dialogue and appropriate forums. We thank all members for their continued support and solidarity.

Together, we shall continue to work for a stronger GIC Re and a better future for all employees.

Team
GICOA