Consolidated Q1FY22 Financials of GIC Re

GIC Re's group includes subsidiary companies namely, GIC Re South Africa, GIC Re Corporate Member, London, and GIC Perestrakhovanie LLC, Moscow. The group also includes three associate companies namely GIC Re Bhutan, India International Insurance Pte Ltd, Singapore and Agriculture Insurance Company of India Ltd. The group performance highlights based on Consolidated Financial Statements for the quarter ended 30.06.2021 are given below:

- Consolidated Gross Premium Income of the company was Rs. 14,426.55 crore for quarter ended 30.06.2021 as compared to Rs. 15,982.75 crore for quarter ended 30.06.2020.

- Investment Income of the group was Rs. 1,809.43 crore for quarter ended 30.06.2021 as compared to Rs. 1,178.22 crore for quarter ended 30.06.2020.

- Consolidated Loss After Tax for quarter ended 30.06.2021 was Rs. 1,039.69 crore as compared to Loss After Tax of Rs. 497.07 crore for quarter ended 30.06.2020.

- Incurred claims Ratio is 107.4 % for quarter ended 30.06.2021 as compared to 94.9% for quarter ended 30.06.2020,

- Group's net worth (without fair value change account) for quarter ended 30.06.2021 is Rs. 23,378.04 crores as compared to Rs. 22,017.25 crore for quarter ended 30.06.2020.

Shares of General Insurance Corporation of India was last trading in BSE at Rs. 165.65 as compared to the previous close of Rs. 166.2. The total number of shares traded during the day was 100849 in over 2395 trades.

The stock hit an intraday high of Rs. 172.85 and intraday low of 162.7. The net turnover during the day was Rs. 17066467.

Source : Equity Bulls

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