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GIC Re announced financial performance for the quarter ended 30.06.2025 at the Board Meeting of company held in Mumbai today.

We give below the details of our financial performance for the quarterended 30.06.2025:

* Gross Premium Income of the company was Rs.12,388.01 crore for the quarter ended 30.06.2025 as compared to Rs.12,405.68 crore for the quarter ended 30.06.2024. (IRDAI had changed the accounting of long term policies in October 2024 to 1/n, because of which premium figures of the current quarter is lower and not exactly comparable with 30.6.2024)

* Incurred Claims ratio is 90.42% in the quarter ended 30.06.2025 from 89.77% in the quarter ended 30.06.2024. (This is due to two large, extraordinary losses which were not present in the quarter of the previous year – Jindal Poly Films Fire loss where 100% loss figures are Rs. 2300 crores and the Air India aviation loss).

* Underwriting Loss is reduced by 29.55% to Rs.907.76crore for the quarter ended 30.06.2025 as compared to Rs.1,288.53 crore for the quarter ended 30.06.2024.

* Gross Investment Income has increased by 18.37% to Rs.3,228.51crore for the quarter ended 30.06.2025 as compared to Rs.2,727.43crore for the quarter ended 30.06.2024.

* Solvency Ratio is3.85 as on 30.06.2025 as compared to3.36 as on 30.06.2024.

* Profit Before Tax (PBT) increased by 61.04% to Rs. 2,243.54crore for the quarterended 30.06.2025 as compared to Rs.1,393.16 crore for the quarter ended 30.06.2024.

* Profit After Tax (PAT)increased by 69.08% to Rs.1,752.23crore for the quarter ended 30.06.2025 as compared to Rs.1,036.36 crore for the quarter ended 30.06.2024.(We have started the practice of providing for Catastrophic Reserve on a Quarterly basis and not annually as done previously.  If this were not done, PBT and PAT figures would be higher by 143.47 crores)

* Total Assets increased by 5.89% to Rs.1,97,539.62 croreas on 30.06.2025 as compared to Rs.1,86,552.46crore as on 30.06.2024.

* Net Worth of the company (without fair value change account) increased by 17.19% to Rs.45,275.48 crore as on 30.06.2025 as against Rs.38,635.23 crore as on 30.06.2024.

* Net Worth of the company (including fair value change account) increased by 4.17% to Rs.89,512.55 crore on 30.06.2025 as against Rs.85,926.02 crore as on 30.06.2024.

* Combined Ratio is reduced by 2.66% to 106.94% for the quarterended 30.06.2025 as against 109.60% for the Quarterended 30.06.2024.

* Adjusted Combined Ratio is 87.51% for thequarterended 30.06.2025 as against 92.97% for the Quarterended 30.06.2024.

Summary of Revenue and Profit and Loss Account

International and Domestic Business Composition

Breakup of Gross Premium

Consolidated Financials of GIC Re

GIC Re's group includes subsidiary companies namely, GIC Re South Africa, GIC Re Corporate Member, London, and GIC Perestrakhovanie LLC, Moscow. The group also includes three associate companies namely GIC Re Bhutan, India International Insurance Pte Ltd, Singapore and Agriculture Insurance Company of India Ltd. The group performance highlights based on Consolidated Financial Statements for the quarterended 30.06.2025 are given below:

* Consolidated Gross Premium Income of the company was Rs. 12,417.16crore for the quarter ended30.06.2025 as compared to Rs.12,589.42 crore for the quarterended 30.06.2024.

* Gross Investment Income of the group was Rs.3,275.02 crore for the quarterended 30.06.2025 as compared to Rs.2,757.29crore for the quarterended 30.06.2024.

* Consolidated Profit Before Tax for the Quarterended 30.06.2025 was Rs. 2,663.67crore as compared to Profit Before Tax of Rs.1,490.12crore for the quarterended 30.06.2024.

* Consolidated Profit After Tax for the quarterended 30.06.2025 was Rs.2,530.59 crore as compared to Profit After Tax of Rs.1400.65crore for the quarterended 30.06.2024.

* Group's net worth (without fair value change account) for the quarterended 30.06.2025 is Rs.50,045.83 crores as compared to Rs.42,164.61crore for the quarterended 30.06.2024.

Summary of Revenue and Profit and Loss Account of Consolidated Financials

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