General Insurance Corporation of India announced Q4FY23 & FY23 results: Gross Premium Income of the company was Rs 36,591.59 crore for the year ended 31.03.2023 as compared to Rs 43,208.46 crore for the year ended 31.03.2022. Underwriting Loss reduced to Rs 2,341.37 crore for the year ended 31.03.2023 as compared to Rs 4,266.11 crore for the year ended 31.03.2022. Investment Income is Rs 10,594.00 crore for the year ended 31.03.2023 as compared to Rs 9,562.29 crore for the year ended 31.03.2022. Solvency Ratio is 2.61 as on 31.03.2023 as compared to 1.96 as on 31.03.2022. The company recorded Profit Before Tax of Rs 7,749.44 crore for the year ended 31.03.2023 as compared to Profit Before Tax of Rs 3,560.14 crore for the year ended 31.03.2022. Profit After Tax for the year ended 31.03.2023 recorded as Rs 6,312.50 crore as compared to Profit After Tax of Rs 2,005.74 crore for the year ended 31.03.2022. Total Assets are Rs 1,57,124.60 crore as on 31.03.2023 as compared to Rs 1,44,887.37 crore as on 31.03.2022. Net Worth of the company (without fair value change account) recorded at Rs 30,306.58 crore on 31.03.2023 as against Rs 24,439.72 crore as on 31.03.2022. Net Worth of the company (including fair value change account) recorded as Rs 61,700.11 crore on 31.03.2023 as against Rs 55,657.73 crore as on 31.03.2022. Combined Ratio is 109.31% for the year ended 31.03.2023 as against 112.08% for the year ended 31.03.2022. Adjusted Combined Ratio is 86.95% for the year ended 31.03.2023 as against 93.11 % for the year ended 31.03.2022. Result PDF
General Insurance Corporation of India announced Q3FY23 results: 9MFY23: The gross premium income of the company was Rs 29,221.85 crore for the 9MFY23 as compared to Rs 32,904.65 crore for the 9MFY22. Underwriting loss was reduced to Rs 3,233.31 crore for 9MFY23 as compared to Rs 6,580.30 crore for 9MFY22. Investment income is Rs 7,696.79 crore for 9MFY23 as compared to Rs 6,735.70 crore for 9MFY22. The solvency ratio is 2.38 as of Q3FY23 as compared to 1.80 and 2.25 as of Q3FY22 and Q2FY23 respectively. The company recorded profit before tax of Rs 4,745.67 crore for 9MFY23 as compared to profit before tax of Rs (54.63) crore for 9MFY22. Profit before tax for Q3FY23 was recorded as Rs 1,595.79 crore as compared to Rs (101.76) crore for Q3FY22. Profit after tax for 9MFY23 was recorded as Rs 3,749.15 crore as compared to profit after tax of Rs 210.34 crore for 9MFY22. Profit after tax for Q3FY23 recorded as Rs 1,200.71 crore as compared to Rs (28.48) crore for Q3FY22. Total assets are Rs 1,58,527 crore as of Q3FY23 as compared to Rs 1,47,275 crore as of Q3FY22. Net worth of the company (without fair value change account) was recorded at Rs 27,822.39 crore in Q3FY23 as against Rs 22,605 crore as of Q3FY22. Net Worth of the company (including fair value change account) recorded as Rs 61,616.80 crore on Q3FY23 as against Rs 53,723 crore in Q3FY22. The combined ratio is 114.68 % for 9MFY23 as against 122.58 % for 9MFY22. Adjusted combined ratio is 93.63% for 9MFY23 as against 104.62 % for 9MFY22. Consolidated 9MFY23 of GIC Re: The gross premium income of the company was Rs 29,546.50 crore for 9MFY23 as compared to Rs 33,503.07 crore for 9MFY22. The investment income of the group was Rs 7,733 crore for 9MFY23 as compared to Rs 6,793 crore for 9MFY22. Profit before tax for 9MFY23 was Rs 5,006.66 crore as compared to profit before tax of Rs28.97 crore for 9MFY22. Profit after tax for 9MFY23 was Rs 4,178.62 crore as compared to profit after tax of Rs 450.26 crore for 9MFY22. Incurred claims ratio is 95.59% for 9MFY23 as compared to 105.09% for 9MFY22. Group's net worth (without fair value change account) for 9MFY23 is Rs 31,033.47 crores as compared to Rs 25,211.50 crore for 9MFY22. Result PDF
General Insurance Corporation of India announced Q2FY23 results: H1FY23 vs H1FY22: The Gross Premium Income of the company was Rs 19,122.45 crore for the half year that ended on Sept 30, 2022, as compared to Rs 22,664.64 crore for the same perioed in 2021. Underwriting loss reduced to Rs1,696.07 crore for the half year that ended on Sept 30, 2022, as compared to Rs 4,209.11 crore for the same period in 2021. Investment Income is Rs 5,096.75 crore for the half year that ended on Sept 30, 2022, as compared to Rs 4,464.56 crore for the same perioed in 2021. The solvency Ratio is 2.25 as of 30.09.2022 as compared to 1.88 and 2.14 as of 30.09.2021 and 30.06.2022 respectively. The company recorded Profit Before Tax of Rs 3,450.08 crore for the half year ended 30.09.2022 as compared to Profit Before Tax of Rs 47.03 crore for the half year ended 30.09.2021. Profit before tax for Q2 of the financial year 2022-23 recorded as Rs 2,461.37 crore as compared to Rs 1,213.76 crore for Q2 of the previous year. Profit After Tax for the half year ended 30.09.2022 recorded as Rs 2,549.65 crore as compared to Profit After Tax of Rs 238.82 crore for the half year ended 30.09.2021. Profit after tax for Q2 of the financial year 2022-23 was recorded as Rs 1,859.93 crore as compared to Rs 1,010.55 crore for Q2 of the previous year. Total assets are Rs 1,53,384.76 crore as of 30.09.2022 as compared to Rs 1,45,976.26 crore as on 30.09.2021. The net worth of the company (without fair value change account) was recorded at Rs 26,625.07 crore on 30.09.2022 as against Rs 22,691.57 crore as of 30.09.2021. Net Worth of the company (including fair value change account) recorded as Rs 59,203.56 crore on 30.09.2022 as against Rs 55,088.25 crore as of 30.09.2021. The combined Ratio is 113.92 % for the half year ended 30.09.2022 as against 121.57% for the half year ended 30.09.2021. The adjusted Combined Ratio is 92.07% for the half year ended 30.09.2022 as against 104.40% for the half year ended 30.09.2021. Result PDF
General Insurance Corporation of India announced Q1FY23 Result : Gross Premium Income of the company was Rs 11,021.83 crore for the quarter ended 30.06.2022 as compared to Rs 14,289.92 crore for the quarter ended 30.06.2021. Underwriting Loss is Rs 776.29 crore for the quarter ended 30.06.2022 as compared to Rs 2811.17 crore for the quarter ended 30.06.2021. Investment Income is Rs 1,890.43 crore for quarter ended 30.06.2022 as compared to Rs 1,794.60 crore for the quarter ended 30.06.2021. Solvency Ratio is 2.14 as on 30.06.2022 as compared to 1.74 as on 30.06.2021. The company recorded Profit Before Tax of Rs 988.71 crore for the quarter ended 30.06.2022 as compared to Loss Before Tax of Rs 1,166. 72 crore for the quarter ended 30.06.2021. Profit After Tax for the quarter ended 30.06.2022 recorded as Rs 689.72 crore as compared to Loss After Tax of Rs 771.73 crore for the quarter ended 30.06.2021. Total Assets are Rs 1,46, 178.09 crore as on 30.06.2022 as compared to Rs 1,42,454.14 crore as on 30.06.2021. Net Worth of the company (without fair value change account) recorded at Rs 24,744.87 crore on 30.06.2022 as against Rs 21,285.37 crore as on 30.06.2021 . Net Worth of the company (including fair value change account) recorded as Rs 53,741.39 crore on 30.06.2022 as against Rs 50,673.76 crore as on 30.06.2021. Combined Ratio is 110.97 % for the quarter ended 30.06.2022 as against 123.36 % for the quarter ended 30.06.2021. Adjusted Combined Ratio is 97.01% for the quarter ended 30.06.2022 as against 112.35 % for the quarter ended 30.06.2021. Consolidated Gross Premium Income of the company was Rs 11,100.74 crore for the quarter ended 30.06.2022 as compared to Rs 14,426.55 crore for the quarter ended 30.06.2021. Investment Income of the group was Rs 1,911 .55 crore for the quarter ended 30.06.2022 as compared to Rs 1,809.43 crore for the quarter ended 30.06.2021. Consolidated Profit Before Tax for the quarter ended 30.06.2022 was Rs 1,025.69 crore as compared to Loss Before Tax of Rs 1,510.96 crore for the quarter ended 30.06.2021. Consolidated Profit After Tax for quarter ended 30.06.2022 was Rs 729.34 crore as compared to Loss After Tax of Rs 1,039.69 crore for the quarter ended 30.06.2021. Incurred claims Ratio is 94.86% for the quarter ended 30.06.2022 as compared to 107.43 % for the quarter ended 30.06.2021. Group's net worth (without fair value change account) for the quarter ended 30.06.2022 is Rs 27,565.68 crores as compared to Rs 23,378.04 crore for the quarter ended 30.06.2021. Result PDF