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General Insurance Corporation of India

08 Aug 2023, 10:55PM

395.00

-0.97%

Carlyle to buy 30% of Quest Global for $500 mn

livemint

Carlyle and Quest will together buy back all shares from the company's existing investors, Bain Capital LP, Advent International LP, and GIC Re and extinguish them

Number of FII/FPI investors increased from 150 to 164 in Dec 2024 qtr.

General Insurance Corporation of India

26 May 2023

395.00

-0.97%

GIC Re net profit jumps 43% on year to Rs 2,564 cr in Jan-Mar quarter

Business Standard

GIC Re on Friday posted a 43 per cent rise in net profit to Rs 2,564 crore for the fourth quarter ended March 2023. The state-owned re-insurer had earned a profit of Rs 1,795 crore in the same quarter a year earlier. During the quarter, the company collected a gross premium of Rs 7,369.74 against Rs 10,303.81 crore in the year-ago period, GIC Re said in a regulatory filing. The net commission also declined to Rs 823.93 crore compared to Rs 2,003.48 crore in the corresponding quarter of the previous fiscal. For the entire 2022-23, GIC Re recorded a three-fold rise in net profit to Rs 6,312.50 crore from Rs 2,005.74 crore in the preceding financial year. The solvency Ratio of the company increased to 2.61 from 1.96 at the end of March 2022. The total Assets of the company rose to Rs 1,57,124.60 crore against Rs 1,44,887.37 crore in the previous year. GIC Re is the largest reinsurer in the domestic reinsurance market in India and leads most of the domestic companies' treaty program

General Insurance Corporation of India is trading below all available SMAs

GIC Re Q4 net profit jumps 43% to Rs 2,564 crore

Moneycontrol | 26 May 2023

General Insurance Corporation of India

25 May 2023

395.00

-0.97%

to see Rapid results content

General Insurance Corporation of India

09 Feb 2023

395.00

-0.97%

GIC Re returns to black with Rs 1,201 cr net income in Dec quarter

Business Standard

General Insurance Corporation of India (GIC Re) on Thursday reported a net profit of Rs 1,201 crore for the third quarter ended December 2022. There was a loss of Rs 28.48 crore in the year-ago period. Sequentially, it posted a net profit of Rs 1,859.93 crore in the second quarter ended September 2022. Gross premium during the October-December quarter declined to Rs 10,099.40 crore from Rs 10,240 crore in the same period of the previous fiscal, GIC Re said in a regulatory filing. Its net premium income inched up to Rs 9,561.2 crore from Rs 9,332.56 crore but earned premium declined to Rs 8,648.76 crore from Rs 8,907 crore. The bottom line was saved by a fall in incurred claims during the quarter, which declined by more than a quarter to Rs 8,380.50 crore from Rs 10,857.83 crore, according to the company. Its underwriting loss came down massively to Rs 1,537.24 crore from Rs 2,371.2 crore, boosting the net income, which was also buoyed by a healthy jump in investment income at Rs