GIC Re Q4 Net Profit Drops 17% to ₹2,183 Crore

28 May 2025 , 10:00 AM

India’s largest state-owned reinsurer GIC Re posted a 17% year-on-year drop in net profit for the quarter to end March 2025; it fell to ₹2,183 crore from ₹2,625 crore. This is lower than ₹2,642 crore in the same quarter last year.

The company’s total income, however, increased to ₹11,364 crore from ₹9,222 crore a year ago, aided by higher investment and premium income. Gross premium collections witnessed robust growth and increased to ₹10,367 crore in Q4 FY25 from ₹8,724 crore in Q4 FY24 reflective of strong underwriting pace across the portfolios.

General Insurance Corporation of India reported an underwriting loss of ₹392 crore in the March quarter, compared with a profit of ₹570 crore reported by the company in the same quarter last year. The board has proposed 200% dividend, or ₹10 per equity share, for FY25, subject to approval of members at the ensuing AGM.

Thus for the entire FY25, GIC Re succeeded in reporting a net profit of 3% higher at ₹6,701 crore from ₹6,497 crore a year ago. The reinsurer also reported healthy growth in its annual business as the gross premium income jumped ₹41,154 crore from ₹37,182 crore in FY24  supported by growth in India and abroad.

GIC Re’s solvency ratio enhanced to 3.70 (versus 3.25 previous year) as at March 31, 2025, portending a robust capital profile and sufficient cushion for future liabilities. The company’s gross total asset too grew to ₹1,87,616 crore (₹1,78,286 crore in FY24) with business growth and sustained investment income.

GIC Re, as the premier Indian Reinsurer, besides reinsuring Indian insurance companies, has been doing a substantial amount of business with the non-Indian insurers and spread across various regions across the globe.