GIC Re Q1 results showed standalone profit after tax rising 9.69% to ₹1,922.04 crore for the quarter ended June 30, 2026, from ₹1,752.23 crore a year earlier, General Insurance Corporation of India said in a BSE filing on August 13.

Standalone gross premium income increased 8.78% to ₹13,475.36 crore from ₹12,388.01 crore. Profit before tax rose 11% to ₹2,490.25 crore, compared with ₹2,243.54 crore in the corresponding quarter of the previous financial year.

The incurred claims ratio improved to 85.04% from 90.42%, while the combined ratio declined to 104.88% from 106.94%. GIC Re's underwriting loss narrowed 20.26% to ₹723.87 crore from ₹907.76 crore.

Domestic premium expands; health and life lead growth

Domestic gross premium rose 12.3% to ₹11,218.34 crore and accounted for 83% of the total. International premium declined 5.8% to ₹2,257.02 crore, contributing the remaining 17%.

  • Life premium increased 145.23% to ₹1,354.97 crore.
  • Health premium advanced 36.68% to ₹3,407.78 crore.
  • Motor premium rose 2.10% to ₹1,871.89 crore.
  • Fire premium declined 9.80% to ₹3,225.33 crore.
  • Agriculture premium fell 22.92% to ₹1,587.86 crore.

Investment income stood at ₹3,265.51 crore, down from ₹3,313.74 crore a year earlier. The adjusted combined ratio edged up to 87.73% from 87.51%.

Solvency and consolidated performance

GIC Re's solvency ratio strengthened to 4.32 as of June 30, 2026, from 3.85 a year earlier. Total assets increased 5.19% to ₹2,07,789.87 crore. Standalone net worth excluding the fair value change account reached ₹53,124.50 crore, compared with ₹45,275.48 crore.

On a consolidated basis, gross premium income rose to ₹13,541.51 crore from ₹12,417.16 crore. However, consolidated profit after tax declined to ₹1,743.67 crore from ₹2,530.59 crore, while profit before tax fell to ₹2,191.78 crore from ₹2,663.67 crore.

The consolidated underwriting loss widened to ₹1,057.32 crore from ₹526.89 crore. Group net worth excluding the fair value change account increased to ₹58,406.63 crore from ₹50,045.83 crore.

Source: BSE corporate announcement.