General Insurance Corporation of India (GIC Re) announced its financial performance for the quarter ended June 30, 2026. Profit After Tax (PAT) increased by 9.69% to ₹1,922.04 crore compared to the previous year. The company also reported a significant rise in Net Worth, which stood at ₹90,790.41 crore, indicating robust financial health and growth.
GIC Re Reports Strong Q1 FY27 Financials
General Insurance Corporation of India (GIC Re) has released its financial results for the first quarter of the fiscal year 2027, ending June 30, 2026. The company demonstrated strong performance with a notable increase in its profitability and a substantial enhancement of its net worth.
Key Financial Highlights
For the quarter ended June 30, 2026, GIC Re reported a Profit After Tax (PAT) of ₹1,922.04 crore, marking a growth of 9.69% compared to the ₹1,752.23 crore recorded in the same period of the previous fiscal year. The Profit Before Tax (PBT) also saw an increase of 11%, reaching ₹2,490.25 crore.
Strengthening Balance Sheet
The company’s balance sheet continues to strengthen, with Total Assets growing by 5.19% to ₹2,07,789.87 crore as of June 30, 2026. The Net Worth of GIC Re, including the fair value change account, stood at a robust ₹90,790.41 crore as of the same date, up from ₹89,512.55 crore at the end of the comparable period last year. This indicates improved financial stability and capacity.
Operational Performance Metrics
GIC Re also reported improvements in key operational metrics. The Incurred Claims ratio decreased to 85.04% for the quarter ended June 30, 2026, down from 90.42% in the prior year’s quarter. The Combined Ratio improved to 104.88%, a reduction from 106.94%, indicating better underwriting efficiency.
Gross Premium Growth
Gross Premium Income for the quarter rose by 8.78% to ₹13,475.36 crore, compared to ₹12,388.01 crore in the corresponding quarter of the previous year. This growth was driven by a 12.3% increase in Domestic business, while International business saw a slight decline of -5.8%.
Source: BSE
