Discussion
When was the General Insurance Corporation of India incorporated?
Answer: B
Correct answer: 1972
The General Insurance Corporation of India was incorporated in November 1972 under the General Insurance Business (Nationalisation) Act of that year, and it took over the business of 107 insurers from 1 January 1973, grouping them into four subsidiaries - National, New India, Oriental and United India. GIC itself later became the national reinsurer when those four were separated from it in 2000.
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