GIC Recruitment 2024 – Apply for Actuarial Apprentice Posts

The General Insurance Corporation of India (GIC ) is currently recruiting 12 Actuarial Apprentices. Applicants must be between the ages of 21 and 27 and have either a postgraduate diploma in actuarial science or a graduate or postgraduate degree in Science, Commerce, or the Arts. Candidates must have passed a minimum of two actuarial exams from the Institute and Faculty of Actuaries (IFoA) or the Institute of Actuaries of India (IAI). Applications may be filed by interested parties via the official GIC Re website or by the notification in detail.

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About General Insurance Corporation of India (GIC)

General Insurance Corporation of India Limited (GIC Re), headquartered in Mumbai, India, is a public sector reinsurance company. Incorporated on 22 November 1972 under the Companies Act, of 1956, it was the sole nationalized reinsurance company in the Indian insurance market until late 2016, when the market opened to foreign reinsurance players from countries like Germany, Switzerland, and France. GIC Re’s shares are listed on BSE Limited and the National Stock Exchange of India Ltd.

GIC Recruitment 2024

GIC Re, based in Mumbai, India, is a leading public sector reinsurance company established on 22 November 1972 under the Companies Act, 1956. Initially the sole nationalized reinsurance entity in India, it opened to foreign players in late 2016. Listed on BSE and NSE, GIC Re now seeks Actuarial Apprentices aged 21-27, offering a stipend of Rs. 30,000-35,000/month. Selection involves interviews/group discussions. Apply online by 08 July 2024.

GIC Recruitment 2024 Overview

Organization Name	General Insurance Corporation of India Limited (GIC)
Posts Name	Actuarial Apprentices
Vacancies	12
Education qualification	B.Sc/B.A/M.Sc/MA/PgD
Application Starting Date	20th June 2024
Walk-In-Interview Date	8th July 2024
Job Location	Mumbai,
Mode Of Application	Online

GIC Recruitment 2024 Vacancy

Total vacancies: 6 Actuarial Apprentices for Non-Life and 6 Actuarial Apprentices for Life. Reservations will apply as per Government guidelines. The total number of vacancies, including those for reserved categories, may vary based on final selections.

GIC Recruitment 2024 Eligibility Criteria

Eligibility Conditions (as on 01.06.2024):

Age: Candidates should be at least 21 years old (completed) and not more than 27 years old, i.e., born between 01.06.1997 and 01.06.2003 (both dates inclusive). Relaxation of up to 3 years for OBCs and 5 years for SCs/STs. Age relaxation for PWD candidates as per rules.

Qualification:

1. Graduation/Post Graduation in Science from a recognized University with Mathematics or Statistics as the main subject, with 60% or more aggregate marks, or
2. Graduation/Post Graduation in Commerce from a recognized University with Statistics/Actuarial Science as the main subject, with 60% or more aggregate marks, or
3. Graduation in Arts with Actuarial Science as the major subject from a recognized University with 60% or more marks, or
4. Post-graduate Diploma in Actuarial Science with 50% or more marks (10% relaxation in marks for SC/ST candidates).

Additional Requirement:

• Candidates must have passed at least 2 actuarial subjects conducted by the Institute of Actuaries of India (IAI) or the Institute and Faculty of Actuaries (IFOA).

GIC Recruitment 2024 Selection Process

Selection Procedure:

• Interview/Group Discussion: All eligible candidates will participate in an online or Head Office-based interview/group discussion. Selection will be based on their performance in these sessions.
• Final Selection: Candidates selected will undergo a medical examination. Selected candidates will be posted at GIC Re’s Head Office.
• Streams: Positions are available for both Life and Non-Life streams, with the number of vacancies subject to Corporation requirements.

GIC Recruitment 2024 Stipend

Monthly Stipend:

• Year 1: INR 30,000
• Year 2: INR 35,000

GIC Recruitment 2024 Service Condition

• The Apprenticeship period is for two years.
• The Apprentice must pass a total of 6 subjects by the end of the two years.
• An extension of 1 year will be granted (2 years for SC/ST candidates) if the Apprentice passes 6 subjects within the initial two-year apprenticeship, thus completing a total of 7 subjects.
• Apprenticeship will be terminated if the Apprentice fails to pass a total of 6 subjects within two years.

GIC Recruitment 2024 Application Process

Application Procedure:

Interested candidates should apply through the MS-Link available on the official website. Please submit the following documents via email to Recruitment-AA@gicre.in:

• Self-attested copies of Caste Certificate (if applicable)
• School Leaving Certificate/Matriculation Certificate showing Date of Birth or Birth Certificate separately
• Degree Certificate and Mark-sheets
• Certificate of Actuarial subjects passed
• Bio-Data with a photograph

Official Notification: Click Here