Left to Right: V C Jain – CFO & GM, Alice G Vaidyan – CMD, D R Waghela – GM and B N Narasimhan – GM, of General Insurance Corporation (GIC) Re. at a press conference in Mumbai to announced its financial performance for the half year ended September 30, 2017.
General Insurance Corporation (GIC) Re. announced its financial performance for the half year ended September 30, 2017
- Gross Direct Premium Income of the Company recorded remarkable increase of 51.4% from Rs.16,118.08 Crore in half year ended 30.09.2016 to Rs.24,404.37 Crore in Half year ended 30.09.2017.
- Substantial growth in Indian business of 72.9% to Rs. 19,227.35 Crore for the half year ended 30.09.2017 as against Rs.11,122.71 Crore for the corresponding period for previous year.
- Profit after tax (PAT) for Half year ended 30.09.2017 grew at 89.3 % to Rs. 1,809.22 Crore compared to Rs. 955.81 Crore in Half year ended 30.09.2016
- Earning per share ( EPS) – for HY 30.09.2017 increased to Rs. 21.04 from Rs. 11.11 for the corresponding period in the previous year
- Return on equity (ROE- Annualised), improved to 19.6 % in Half year ended 30.09.2017 compared to 12.2 % in Half year ended 30.09.2016.
- Combined Ratio is 99.4% for the half year ended 30.09.2017 as compared to 99.1% for the Half year ended 30.09.2016. However, in comparison with the year ended 31.03.2017, combined ratio shows an improving trend.
- Solvency ratio of 1.72 as on 30 September 2017, which is above minimum required solvency ratio of 1.50. Ends