GIC Re announces Financial Performance for the Quarter ended 30.06.2023.
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GIC Re announced financial performance for the quarter ended 30th June 2023 at the Board Meeting of the company held in Mumbai today.
We give below the details of our financial performance for the quarter ended 30.06.2023:
Gross Premium Income of the company was ? 8,917.71 crore for the quarter ended 30.06.2023 as compared to ? 11,021.83 crore for the quarter ended 30.06.2022.
Underwriting Loss is ? 1,557.44 crore for the quarter ended 30.06.2023 as compared to ? 776.29 crore for the quarter ended 30.06.2022.
Investment Income is ? 2,454.94 crore for quarter ended 30.06.2023 as compared to ? 1,890.43 crore for the quarter ended 30.06.2022.
Solvency Ratio is 2.88 as on 30.06.2023 as compared to 2.14 as on 30.06.2022.
The company recorded Profit Before Tax of ? 935.18 crore for the quarter ended 30.06.2023 as compared to Profit Before Tax of ? 988.71 crore for the quarter ended 30.06.2022.
Profit After Tax for the quarter ended 30.06.2023 recorded as ? 731.79 crore as compared to Profit After Tax of ? 689.72 crore for the quarter ended 30.06.2022.
Total Assets are ? 1,64,258.75 crore as on 30.06.2023 as compared to ? 1,46,178.09 crore as on 30.06.2022.
Net Worth of the company (without fair value change account) recorded at ? 32,984.27 crore on 30.06.2023 as against ? 26,345.14 crore as on 30.06.2022.
Net Worth of the company (including fair value change account) recorded as ? 69,650.29 crore on 30.06.2023 as against ? 55,341.65 crore as on 30.06.2022.
Combined Ratio is 118.47 % for the quarter ended 30.06.2023 as against 110.97 % for the quarter ended 30.06.2022.
Adjusted Combined Ratio is 97.24 % for the quarter ended 30.06.2023 as against 97.01 % for the quarter ended 30.06.2022.
