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GIC Re announces Financial Performance for the Nine Months Ended December 31, 2018

Posted On: 2019-02-10 00:00:14

GIC Re declared its financial performance for the nine months ended December, 2018, at the board meeting of the company held in Mumbai today.

- Growth in Gross Premium Income of the company was 8.6 % with premium of ,36,148.65 crore for the nine months ended 31.12.2018 from, 33,274.35 crore in the corresponding previous year period ended 31.12.2017.

- Investment Income for the nine months period ended 31.12.2018 was increased to, 4,806.12 crore as compared to , 3,614.33 crore for the nine months ended 31.12.2017, showing a growth of 33%

- Net Worth of the company (without fair value change account) increased by 4.5% to, 21,720.89 crore on 31.12.2018 from ? 20,776.01 crore on 31.12.2017.

- Profit After Tax (PAT) for the nine months period ended 31.12.2018 recorded as , 1,620.94 crore compared to , 1,285.27 crore for the half year ended 30.09.2018.

- Combined ratio is improved to 107.6% for the nine months ended 31.12.2018, in comparison to 110.3% of the half year ended 30.09.2018.

- Adjusted Combined Ratio (after considering the policyholders' investment income) works out to 97% for the nine months ended 31.12.2018.

- Return on Equity (ROE) (unannualized), increased to 7.5% for the nine months ended 31.12.2018 as compared to 6% in the half year ended 30.09.2018.

- Solvency Ratio has improved to 1.84 as on 31.12.2018 as compared to 1.73 as on 30.09.2018.

- Total Assets increased by 7.2 % from , 111,385.04 crore as on 31.12.2017 to, 119,367.26 crore as on 31.12.2018.

Shares of General Insurance Corporation of India was last trading in BSE at Rs.232.15 as compared to the previous close of Rs. 236.25. The total number of shares traded during the day was 7769 in over 281 trades.

The stock hit an intraday high of Rs. 239.75 and intraday low of 230.45. The net turnover during the day was Rs. 1802173.

Source: Equity Bulls

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