It’s going to be a tightrope walk for GIC Re, faced with a wave of claims from the disaster-hit Uttarakhand. But the reinsurance company clearly has its task cut out, asserts A K Roy, chairman and managing director. In an interview with Amol Dethe of Zee Business, he lets out how to navigate this path and the company’s efforts to take its footprint far and wide.       After Japan, it seems Uttarakhand is going to be the biggest claim for you. We had three sets of meetings with the insurance companies. There are challenges of documentation. Claims have started pouring in, these will further go up since people are not fully out of the traumatic situation. So, far GIC Re has reported 400 claims. Apart from motor vehicles, property, personal and cattle claims have also been reported. But the big chunk has come in from hydro power projects. Till date, we have reported worth Rs 1,400 crore claims.Any expansion plans?They are going on schedule. Expansion takes some time for various factors. But I see our operations starting in Bhutan first. We will start the company operation there by the end of this fiscal.Progress on TPA?We are working on the final business plan. A new company will be formed in July itself. GIC Re has deployed 5% equity to form the new company.You were in discussions with Lloyds to enter the world market.We are rigorously working with Lloyds. It will give us the biggest access in the world market. We will get ratings from S&P as well, if we work with them. We are exploring all the options, it’s work in progress. Therefore, the timeline doesn’t matter.

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