GIC Re has posted a 69 per cent surge in net profit to ₹1,752 crore for the first quarter ended June 30, 2025.
The state-owned reinsurance company had earned ₹1,036 crore in the same quarter in the previous financial year.
Total income of the re-insurer rose to ₹13,352 crore in the June quarter, compared to ₹11,964 crore in the same quarter a year ago, GIC Re said in a regulatory filing.
During the quarter, the company collected a lower gross premium of ₹12,388 crore. In the quarter ended June 30, 2024 its gross premium stood at ₹12,405 crore. The decline was due to IRDAI’s change in the accounting of long-term policies in October 2024, and thus figures are not exactly comparable with June 30, 2024, it said.
During the quarter, the company’s underwriting loss narrowed to ₹907 crore, as against ₹1,289 crore in the same period a year ago.
The solvency ratio increased to 3.85 from 3.36 at the end of June 2024.
Total assets of the company rose to ₹1,97,540 crore, as against ₹1,86,552 crore in the previous year.
Net Worth of the company (including fair value change account) increased by 4.17 per cent to ₹89,513 crore, compared to ₹85,926 crore as on June 30, 2024.
GIC Re is the largest reinsurer in the domestic reinsurance market in India and leads most of the domestic companies’ treaty programmes and facultative placements.
Published on August 8, 2025
