General Insurance Corporation of India (GIC Re), the Indian public sector reinsurer, has reported a net profit of ₹1,752 crore for the first quarter ended June 30, 2025, up around 69% compared to the same period of the previous financial year.
GIC Re’s gross premium figure stood at ₹12,388 crore for the first quarter ended June 30, 2025, a slight decline from last year.
The firm explained that this was due to IRDAI’s change in the accounting of long-term policies in October 2024.
Of the total gross premium in the period, ₹9,992.81 was from domestic business, and ₹2,395.20 was from International business.
At the same time, GIC Re’s underwriting loss in the first quarter ended June 30, 2025, narrowed to ₹907 crore, compared to ₹1,289 crore in the same period last year.
The firm’s combined ratio for the 2025 period was 106.94%, marking a reduction of 2.66% from the same period last year.
Meanwhile, GIC Re’s total assets rose to ₹1,97,540 crore in the first quarter ended June 30, 2025, compared to ₹1,86,552 crore in the previous year. The Net Worth of the firm also increased by 4.17% to ₹89,513 crore.
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