GIC Re's gross written premium for Q4FY18 came in at Rs8,525.02cr, down by 8.0% yoy. The net earned premium declined significantly by 27.6% yoy to Rs7,053.34cr in Q4FY18. It reported an underwriting loss of Rs1,219.06cr as against Rs1,418.78cr in Q4FY17. The combined ratio of the company for the quarter was at 116.57% as against 89.05% in Q4FY17. The company's net profit after tax for Q4FY18 came in at Rs751.60cr as against Rs2,572.83cr in Q4FY17. The board recommended a dividend of Rs13.5 per share for FY18. It also announced a bonus issue of 1:1.
• Net income from investments for policyholders increased by 6.2% yoy to Rs1,253.13cr in Q4FY18.
• Net commission and brokerage expenses for Q4FY18 stood at Rs1,546.58cr, which increased by 6.2% yoy.
• The claims paid during the quarter increased by 66.1% yoy to Rs5,856.43cr in Q4FY18. However, changes in outstanding claims declined by 75.5% yoy to Rs806.67cr in Q4FY18.
• The solvency ratio of the company as on March 31, 2018 stood at 172% as against regulatory requirement of 150%.
• The combined ratio for FY18 deteriorated to 104% as against 99.73% in FY17.
• The net worth of the company increased by 6.61% yoy to Rs53,037.70cr as on March 31, 2018.
• The consolidated segmental performance of the company for significant segment is as follows:
Net Premium (Rs in Cr)
Operating P&L (Rs in Cr)
• The board recommended a dividend of Rs13.5 per share for FY18. It also announced a bonus issue of 1:1.
General Insurance Corporation of India ended at Rs. 692, up by 5.9 points or 0.86% from its previous closing of Rs. 686.10 on the BSE.
The scrip opened at Rs. 695 and touched a high and low of Rs. 695 and Rs. 686 respectively. A total of 57,323 (NSE+BSE) shares were traded on the counter. The stock traded above its 100 DMA.
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