2022 GIC India Actuarial Apprentice null

Job Overview

GIC Re, the ‘National Reinsurer of India’ with a global footprint, is a 5 billion USD Dollar Reinsurer and 11th largest Reinsurance Company in the world with a network in India and abroad is looking for Young, Energetic Graduates/ Post Graduates with Brilliant Academic records in the disciplines mentioned below to fill in the positions of 7 Actuarial Apprentices, who have passed at least 7 actuarial subjects of exam conducted by the Institute of Actuaries of India(IAI) / Institute and Faculty of Actuaries, UK.

Vacancies

• 7* (Four for Non-Life Reinsurance & Two for Life Reinsurance & One for Obligatory Cell) Reservations shall be applicable as per the Government guidelines.
• The total number of vacancies, including the number of vacancies for reserved categories may increase or decrease depending on the total number of vacancies at the final selection.

Eligibility Conditions

• Age: 21 years (completed) and not more than 27 years i.e. candidate should have been born not earlier than 30.09.1993 and not later than 30.09.1999 both days inclusive, relaxation up to 30 years for OBCs and 35 years for SCs/STs.
• Age relaxation for PWD candidates is as per rules.

Qualification

• Graduation/Post Graduation in Science from a recognized University with Mathematics or Statistics as the main subject with 60% or more marks in aggregate, or
• Graduation/Post Graduation in Commerce from a recognized University with Statistics/Actuarial Science as main subject with 60% or more marks in aggregate, or
• Graduation in Arts with Actuarial Science as a major subject from a recognized University with 60% or more marks.
• Post-graduate Diploma in Actuarial Science with 50% or more marks (10% relaxation in marks for SC/ST candidates).
• The candidate should have passed at least 2 actuarial subjects exams conducted by the Institute of Actuaries of India (IAI) or the Institute and Faculty of Actuaries (IFA). 

Service Conditions

• A three-year period of Apprenticeship.
• May be eligible for being considered for the post of Assistant Manager after passing 10 or more subjects
• Apprentice to pass a total of 7 subjects by the end of 3 years.
• A further extension of 1 year (2 years in case of SC/ST candidates) shall be granted if the apprentice passes 9 subjects within the initial 3 years of apprenticeship for passing another 1 paper so as to complete 10 papers.
• Termination of apprenticeship on failure to pass 9 subjects within three years.

Selection Procedure

• Interview/Group Discussion (to be conducted only in Mumbai).
• All eligible candidates will be called for an interview/ Group Discussion and their selection will be based on their performance in the Interview/Group Discussion.
• The final Selection of candidates will be subject to Medical Examination.
• Posting of selected candidates will be at the Head Office of GIC Re.
• The selected candidates will be for both the streams i.e. life and non-life