GIC Re Q1 FY27 profit and premiums rise; solvency improves

Mumbai: General Insurance Corporation of India (GIC Re) reported a 9.7 percent year-on-year rise in standalone profit after tax to Rs 1,922.04 crore for Q1 FY27, compared with Rs 1,752.23 crore in Q1 FY26. Gross premium income increased 8.8 percent YoY to Rs 13,475.36 crore from Rs 12,388.01 crore. Sequentially, however, profit declined 15 percent from Rs 2,254.25 crore in Q4 FY26, while gross premium rose 22 percent from Rs 11,030.48 crore.Premium Growth And ProfitGIC Re's standalone profit before tax increased 11 percent YoY to Rs 2,490.25 crore in Q1 FY27 from Rs 2,243.54 crore in Q1 FY26. Net premium rose to Rs 12,664.12 crore from Rs 11,635.89 crore, while earned premium stood at Rs 11,081.46 crore against Rs 11,088.21 crore in the year-ago quarter.The reinsurer's incurred claims declined 6 percent YoY to Rs 9,423.96 crore from Rs 10,026.16 crore. Its incurred claims ratio improved to 85.04 percent from 90.42 percent, while the combined ratio declined to 104.88 percent from 106.94 percent.Sequential PerformanceCompared with Q4 FY26, standalone PAT declined 15 percent from Rs 2,254.25 crore, while profit before tax fell 16 percent from Rs 2,960.02 crore. Investment income, however, increased 6.7 percent sequentially to Rs 3,265.51 crore from Rs 3,059.46 crore.The company reported an underwriting loss of Rs 723.87 crore in Q1 FY27, compared with an underwriting profit of Rs 84.31 crore in Q4 FY26. On a YoY basis, the underwriting loss narrowed 20 percent from Rs 907.76 crore. Leap India Raises ₹371.3 Crore Pre-IPO, GIC Arm & Promoter Sunu Mathew Invests At ₹159 Upper Price BandDomestic Business Drives Premium GrowthDomestic gross premium increased 12 percent YoY to Rs 11,218.34 crore and accounted for 83 percent of total premium. International premium declined 5.8 percent to Rs 2,257.02 crore and contributed 17 percent.Among business segments, health premium jumped 37 percent YoY to Rs 3,407.78 crore, while life premium surged 145 percent to Rs 1,354.97 crore. Agriculture premium declined 23 percent to Rs 1,587.86 crore, while fire premium fell 9.8 percent to Rs 3,225.33 crore.Solvency And Net WorthGIC Re's solvency ratio improved to 4.32 as of June 30, 2026, from 3.85 a year earlier. Net worth excluding the fair value change account increased to Rs 53,124.50 crore from Rs 45,275.48 crore. Total assets rose 5.2 percent YoY to Rs 2,07,789.87 crore from Rs 1,97,539.62 crore.Disclaimer: This report is based on unaudited financial results filed by the company and does not constitute investment advice.

GIC Q1 Results: Solvency ratio, a critical metric indicating an insurer's ability to meet its long-term debt obligations and payouts, strengthened 4.32x, a marked improvement from 3.85x in the previous year.