Till the year 2016 General Insurance Corporation of India was Sole reinsurer in the Indian reinsurance market. Thereafter competitors have been entered into the Indian reinsurance market in the form of branch offices of foreign reinsurance Companies. Entry of these foreign competitors have broken the monopoly status of GIC Re. So, we can say that these entrants are big challenges in front of GIC Re. Despite these challenges GIC Re is maintaining its dominant position in domestic market with more than 70% market share.

This paper is an attempt to study the various challenges are being faced by GIC Re and Prospects available to GIC Re.