Go Digit announces its performance for the 4th Quarter & FY 2023-24
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Go Digit announces its performance for the 4th Quarter & FY 2023-24
Gross Written Premium Income:
* In FY 2023-24, Gross Written Premium (GWP) of the company stood at Rs. 9,016 cr as compared to Rs. 7,243 cr in FY 2022-23, achieving a growth of 24.5%.
* In Q4 FY24, Gross Written Premium of the company stood at Rs. 2,336 cr compared to Rs. 1,955 cr in Q4 FY23, achieving a growth of 19.5%.
Premium Retention Ratio:
* Premium Retention Ratio for the FY 2023-24 stands at 85.8%, compared to 81.6% in FY 2022-23.
* Premium Retention Ratio for Q4 FY24 is 89.9%, as compared to 88.3% in Q4 FY23.
Profitability:
* Profit after tax for the FY 2023-24 stood at Rs. 182 Cr, as compared to Rs. 36 Cr in FY 2022-23.
* Profit after tax for the Q4 FY24 stood at Rs. 53 Cr, compared to Rs. 26 Cr in Q4 FY23.
Asset Under Management:
* As at March 31, 2024, our asset under management stands at Rs. 15,764 Cr, compared to Rs. 12,668 Cr as at March 31, 2023, grew by 24.4%.
Combined Ratio:
* Combined Ratio for the FY 2023-24 stands at 108.7%, compared to 107.4% in FY 2022-23.
(The impact of large losses and natural disasters is 1.0%).
* Combined Ratio for Q4 FY24 is 108.8%, as compared to 102.6% in Q4 FY23.
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