GIC-Bhutan Reinsurance Company Limited (formerly known as GIC-Bhutan Re Limited, changed its name to GIC-Bhutan Reinsurance Company under the companies Act 2016) was incorporated on 16th May 2013 under the Companies Act 2000 of the Kingdom of Bhutan. Company was licensed to carry on General Reinsurance business on 12th August 2013 under Financial Services Act 2011. The Company was formally launched on the 5th of September 2013, by the Hon’ble Finance Minister of Bhutan and His Excellency, the Indian Ambassador to Bhutan GIC-Bhutan Reinsurance Company limited is a Joint Venture Foreign Direct Investment (FDI) company with Initial paid up capital of Nu 500 Mln. It is promoted by General Insurance Corporation of India (GIC Re) holding 26% share and two Bhutanese promotors Dasho Sangay Wangchuk and Aum Damche Dem, each holding 17% share. Remaining 40% share are offered to public through Initial Public Offering (IPO).