Go Digit General Insurance reported a premium of INR 2,667 crores for Q2 FY26. The company’s growth rate, without 1/n, is 15.6%, outpacing the industry’s 10%. Profit before tax increased to INR 136 crores, and profit after tax reached INR 117 crores. Go Digit is also seeing impressive growth in fire and commercial lines, accompanied by an increased market share in Motor OD to 6.2%.
Financial Performance
Go Digit General Insurance showcased its Q2 FY26 performance, noting a premium of INR 2,667 crores. The company’s H1 premium reached INR 5,649 crores, resulting in an overall market share of 3.4% and a motor market share of 6.5%.
Key figures from the report include:
- Premium Retention Ratio: 79.1%
- Loss Ratio: 73%
- Combined Ratio: 111.4%
- Profit Before Tax: Increased to INR 136 crores
- Profit After Tax: INR 117 crores (tax rate of 14%)
- Net Worth: Increased to INR 4,290 crores
- Solvency Ratio: 2.26
Growth and Market Share
Go Digit’s growth rate, excluding 1/n, is 15.6%, exceeding the industry’s growth of 10%. In Motor OD, the company achieved a growth of 12.6% against the industry’s 5.6%. Fire commercial lines grew by 60.8% against an industry growth of 27.6%. The company’s market share in Motor OD now stands at 6.2%, its highest ever.
Strategic Initiatives and Product Mix
Private car and 2-wheeler segments continue to perform well. From September 22nd to October 24th, premium and new car sales experienced growth of about 24%. The mix of private car, 2-wheeler, and CV in Q2 is 45%, 30%, and 25%, respectively.
The company is also focusing on increasing its private car mix to improve profitability. An increase of 1% in the private car mix from 2-wheelers could reduce the company’s COR by 0.1%.
Investment and Assets
AUM has increased to INR 21,345 crores. As of September 30th, Go Digit has an unrealized gain of INR 677 crores, including INR 326 crores in equity and INR 351 crores in fixed income.
Asset allocation includes 7.3% in equity and 10.6% in AT1 bonds. Fixed income continues to be a strong portfolio in terms of rating and sovereign bonds.
Loss Ratios and Claims
The OD loss ratio in Q2 is 71.3%, impacted by floods. The health loss ratio increased compared to the previous quarter due to some government health business. Overall, the company is focusing on efficient claims management and continuous improvement.
IFRS Earnings
The company also provided insights into its IFRS earnings, looking at IGAAP results and deferred acquisition costs. With a full tax of 25%, the profit would have been INR 375 crores.
Source: BSE
