GIC wage revision movement

https://asiainsurancepost.com/archives/80673

Lavanya Mundayur,CMD, AIC selected as new CMD of New India Assurance - Asia Insurance Post Lavanya Mundayur, CMD, Agriculture Insurance Company The FSIB had interviewed six candidates on Thursday and chose Mundayur for the post of NIA CMD. New Delhi:The Financial Services Institutions Bureau(FSIB), on Thursday, has selected Lavanya Mundayur, 57,CMD, Agriculture Insurance Company(AIC), as....

GIC Re FY 2025-26 Result - Profit before Tax increased to INR 10,793 Crores from INR 8,765 Crores.

https://asiainsurancepost.com/archives/80083

Nagaraju launches $1.5 bn Bharat Marine Pool,hands over policies issued by New India - Asia Insurance Post L to R-Sanjay Lohiya,special secretary, Department of Financial Services(DFS), M. Nagaraju,secretary, DFS, officials from Vedanta Sterlite and Balram Chini Mills, Girija Subramanian,CMD, New India Assurance, Kasturi Sengupta, secretary general, GI Council, Hitesh Joshi, acting CMD, GIC Re, at an eve...

Dated: 07.04.2026
Dear Comrades,
It is with profound grief and deep sorrow that we have received the sad news of the demise of Shree G. Jayamurthy, Founder Leader of the All India General Insurance SC/ST Employees Parishad.
With his passing, the General Insurance Industry has lost a fearless leader, a committed trade unionist, and a tireless crusader who devoted his entire life to the upliftment and welfare of the downtrodden employees in the industry.
GICOA has lost a true friend and well-wisher whose contribution, fighting spirit, and unwavering commitment towards the cause of employees of PSGI and GIC Re shall always be remembered with great respect and admiration.

On behalf of GICOA and all GICIANS, we pay our heartfelt tributes to the departed soul and convey our deepest condolences to the bereaved family members, colleagues, and comrades.

May his noble soul attain eternal peace.

Com. G. Jayamurthy Amar Rahey.

Comradely yours,
Team GICOA

GICOA UPDATE – CGIT PROCEEDINGS

Dear Members,
This is to inform all concerned that the matter of "Wage revision at par with LIC " wherein GIC Re and Department of Financial Services (DFS) are parties and GIC Officers Association (GICOA) is the respondent, is listed before the Hon’ble Central Government Industrial Tribunal (CGIT), Mumbai-I.

Next date of hearing is scheduled on 30/06/2026

GICOA has been consistently representing the interests of all employees with full commitment and has already placed strong arguments and submissions on record. We remain confident of a fair and just outcome based on merits.

All members are requested to stay united and continue their support. Further updates will be shared after the next hearing.

In solidarity,
GIC Officers Association (GICOA)

GIC Re is the largest contributor to the Bharat Maritime Insurance pool with INR 200 Crs approx..

https://thekanal.in/en-IN/details/govt-directs-psbs-to-complete-13th-bps-wage-revision-within-12-months-73455

Govt Directs PSBs to Complete 13th BPS Wage Revision Within 12 Months The Ministry of Finance has advised Public Sector Banks (PSBs) to initiate and conclude the 13th Bipartite Settlement (BPS) wage revision negotiations within a fixed 12-month timeline. The move aims to ensure timely implementation of the next wage settlement, scheduled to come into effect from Novem...

https://www.pib.gov.in/PressReleasePage.aspx?PRID=2253243®=3&lang=2

Cabinet approves proposal for creation of ‘Bharat Maritime Insurance Pool’ (BMI pool) with a sovereign guarantee of Rs 12,980 crore to facilitate continuous maritime insurance coverages The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today has approved the proposal f

https://www.google.com/amp/s/www.financialexpress.com/money/da-dr-discrimination-between-employees-and-pensioners-supreme-courts-big-ruling-heres-what-it-means-for-retirees-4203557/lite/

DA-DR discrimination between employees and pensioners: Supreme Court’s big ruling — here’s what it means for retirees In a significant ruling, the Supreme Court held that pensioners cannot be given lower dearness relief than employees’ dearness allowance, stating that inflation impacts both equally and unequal hikes violate the right to equality.