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GIC Re announced financial performance for the year ended 31^st March,2024 at the Board Meeting of company held in Mumbai today.

We give below the details of our financial performance for the year ended 31.03.2024:

• Gross Premium Income of the company was Rs  37,181.76 crore for the year ended 31.03.2024 as compared to Rs 36,591.59 crore for the year ended 31.03.2023.
• Underwriting Loss is Rs 4,006.56 crore for the year ended 31.03.2024 as compared to Rs 2,341.37 crore for the year ended 31.03.2023.
• Investment Income is Rs11,620.40 crore for year ended 31.03.2024 as compared to Rs 10,594.00 crore for the year ended 31.03.2023.
• Solvency Ratio is 3.25 as on 31.03.2024 as compared to 2.61 as on 31.03.2023.
• The company recorded Profit Before Tax of Rs 7,877.93 crore for the year ended 31.03.2024 as compared to Profit Before Tax of Rs 7,749.44 crore for the year ended 31.03.2023.
• Profit After Tax for the year ended 31.03.2024 recorded as Rs 6,497.30 crore as compared to Profit After Tax of Rs 6312.50 crore for the year ended 31.03.2023.
• Total Assets are Rs 1,78,285.82 crore as on 31.03.2024 as compared to Rs 1,57,124.60 crore as on 31.03.2023.
• Net Worth of the company (without fair value change account) recorded at Rs 37,581.78 crore on 31.03.2024 as against Rs 32,356.08 crore as on 31.03.2023.
• Net Worth of the company (including fair value change account) recorded as Rs  81,330.25 crore on 31.03.2024 as against Rs 63,749.61 crore as on 31.03.2023.
• Combined Ratio is 111.82 % for the year ended 31.03.2024 as against 109.31 % for the year ended 31.03.2023.
• Adjusted Combined Ratio is 88.02 % for the year ended31.03.2024 as against 86.96% for the year ended 31.03.2023.

Summary of Revenue and Profit and Loss Account

International and Domestic Business Composition

Breakup of Gross Premium

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