GIC Re has issued a revised investor presentation correcting an error in the combined ratio, which was previously stated as 117.9%. The accurate combined ratio is 108.8%, as shown under GIC Re – Key Financials on Standalone Basis (Page no. 27 of the presentation). There are no other changes in the revised presentation, which is now available on the Corporation’s website.
Revised Investor Presentation
GIC Re has updated its investor presentation to rectify an error in the originally published document. The revised presentation addresses a misstatement concerning the combined ratio.
Correction of Combined Ratio
The combined ratio was incorrectly mentioned as “117.9%”. The correct combined ratio is “108.8%” under GIC Re – Key Financials on Standalone Basis (Page no. 27 of the presentation). This correction addresses an inadvertent typographical error.
Availability of Presentation
The updated investor presentation is now accessible on the Corporation’s website. No other modifications have been made to the document besides the combined ratio correction.
Roadshow Delegation: Ministry and Corporate Leaders
The delegation includes:
- Mr. Anurish Chawala: Secretary, DIPAM
- Dr. Alok Pandey: Additional Secretary, DIPAM
- Dr. Parshant Kumar Goyal: Joint Secretary, DFS
- Mr. Hitesh Joshi: ED -Additional Charge of CMD, General Insurance Corporation of India
- Ms. Jayashri B: ED & CRO, General Insurance Corporation of India
- Mr. V. Balkrishna: GM & CFO, General Insurance Corporation of India
Reinsurance Industry Overview
The global reinsurance sector is experiencing strong gross written premium growth. The size is expected to increase from ~USD 642 Billion in 2023 to ~USD 2,001 Billion in 2034 with a robust CAGR of 11%.
Indian Reinsurance Market
India’s general insurance market is estimated to grow at a compound annual growth rate (CAGR) of 9.9% during 2024-2028. GIC Re expects to maintain market leadership going forward on strong financials, adequate capacity and expertise.
GIC Re Key Financials (Consolidated)
Key financial highlights include:
- GWP (FY25): INR 41,955 Cr
- Combined Ratio (FY25): 108.1%
- ROE (FY25): 15.3%
- Solvency Ratio (FY25): 370%
GIC Re: Key Financials on Standalone Basis (1/2)
- Gross Premium (FY25): 41,154 INR Cr
- Profit After Tax (FY25): 6,701 INR Cr
GIC Re: Key Financials on Standalone Basis (2/2)
- Net Worth Incl. FVC (FY25): 83,224 INR Cr
- Policyholders’ Funds (FY25): 85,915 INR Cr
- Combined Ratio % (FY25): 108.8%
- Return on Equity % (FY25): 17.3%
GIC Re – Shareholding
- GOI: 82.4%
Source: BSE