General Insurance Corporation of India slips into red, records a loss of ~Rs557cr in Q1FY21

Gross Premium Income of the company stood at ~Rs15,882cr in Q1FY21.

Sep 07, 2020 11:09 IST India Infoline News Service

Quarterly Results
General Insurance Corporation of India announced its Q1FY21 results on Sep 7, 2020. Gross premiums written in Q1FY21 stood at Rs15,881.55cr, which declined by 23.69% yoy from Rs20,813.12cr in Q1FY20.

Operating loss stood at Rs852.99cr in Q1FY21 that decreased by 517.54% yoy. For Q1FY20, it had posted operating profit of Rs204.29cr. Loss after tax in Q1FY21 came in at Rs557.47cr which declined by 613.32%, as compared to Q1FY20, when it had reported profit of Rs108.6cr.

Solvency ratio of the company stood at 1.52x in Q1FY21 as against 1.89x in Q1FY20. The combined ratio for Q1FY21 is 112.16% which increased by 9.53% yoy. The combined ratio for Q1FY20 was at 102.63%.

Share price of company closed at Rs144.9 up by 0.42% on BSE.

Particulars Q1FY21 (Rs in cr) Q1FY20 (Rs in cr) % VAR
Gross Premium 15,881.55 20,813.12 -23.69
Operating Profit(Loss) (852.99) 204.29 -517.54
PAT(Loss) (557.47) 108.60 -613.32
Solvency Ratio(x) 1.52 1.89 -0.37
Combined Ratio (%) 112.16 102.63 9.53

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