GIC Re announces Financial Performance for the Nine months ended 31.12.2023
GIC Re announced financial performance for the Nine months ended 31st December,2023 at the Board Meeting of company held in Mumbai today.
We give below the details of our financial performance for the Nine months ended 31.12.2023:
Gross Premium Income of the company was ? 28,458.11 crore for the Nine months ended 31.12.2023 as compared to ? 29,221.85 crore for the Nine months ended 31.12.2022.
Underwriting Loss is ? 4,576.63 crore for the Nine months ended 31.12.2023 as compared to ? 3,233.80 crore for the Nine months ended 31.12.2022.
Investment Income is ? 8,648.92 crore for Nine months ended 31.12.2023 as compared to ? 7,696.79 crore for the Nine months ended 31.12.2022.
Solvency Ratio is 2.94 as on 31.12.2023 as compared to 2.38 as on 31.12.2022.
The company recorded Profit Before Tax of ? 4,706.58 crore for the Nine months ended 31.12.2023 as compared to Profit Before Tax of ? 4,745.17 crore for the Nine months ended 31.12.2022.
Profit After Tax for the Nine months ended 31.12.2023 recorded as ?3,854.82 crore as compared to Profit After Tax of ? 3,748.66 crore for the Nine months ended 31.12.2022.
Total Assets are ? 1,74,882.51 crore as on 31.12.2023 as compared to ? 1,58,526.70 crore as on 31.12.2022.
Net Worth of the company (without fair value change account) recorded at ?35,031.89 crore on 31.12.2023 as against ? 29,761.80 crore as on 31.12.2022.
Net Worth of the company (including fair value change account) recorded as ? 77,626.89 crore on 31.12.2023 as against ? 63,556.21 crore as on 31.12.2022.
Combined Ratio is 117.99 % for the Nine months ended 31.12.2023 as against 114.68 % for the Nine months ended 31.12.2022.
Adjusted Combined Ratio is 94.43 % for the Nine months ended 31.12.2023 as against 93.63% for the Nine months ended 31.12.2022.
International and Domestic Business Composition
Breakup of Gross Premium
