GIC Re has stated that gross premium income in the half year ended September 30, 2023, was INR 19,679.85 crore, compared to INR 19,122.45 crore at September-end 2022.
Underwriting loss in the period was INR 3,029.04 crore against a loss of INR 1,696.07 crore in 2022.
However, the company recorded Profit Before Tax of INR 2,782.78 crore for the half year ended September 30, compared to a profit before tax of INR 3,450.08 crore for the same period in 2022.
The combined ratio was 116.98 % for the half year ended 30.09.2023 as against 113.92 % for half year ended 30.09.2022.
Gross premiums rose to INR 19,679.85 crore for the half-year ended September 30, compared with INR 19,122.45 crore in 2022. Net premiums rose to INR 18,197.98 crore in the period, from INR 17,848.72 crore for the same period in 2022.
Earned premium was INR 18,590.67 crore for the half year ended 30.09.2023 as compared to INR 19,500.14 crore a year earlier.
Investment Income of the group was INR 5,555.91 crore for the half year ended 30.09.2023 as compared to INR 5,096.75 crore for the half year ended 30.09.2022.
