New Delhi: General Insurance Corporation of India (GIC Re) reported a 12.3% year-on-year increase in Gross Premium Income (GPI) to ₹24,703.57 crore for the half year ended September 30, 2026. The company’s Profit After Tax (PAT), however, declined 5.23% to ₹4,377.66 crore from ₹4,619.02 crore in the corresponding period of the previous financial year.
The financial results for the first half of FY27 were approved by the Board of Directors at a meeting held in Mumbai on October 30, 2026.
GIC Re also reported an improvement in its solvency ratio, which rose to 4.18 as of September 30, 2026, compared with 3.85 a year earlier. Meanwhile, its total assets increased by 7.46% to ₹2,13,420.24 crore.
GIC Re H1 FY27 Financial Performance
GIC Re recorded Gross Premium Income of ₹24,703.57 crore during H1 FY27, compared with ₹21,989.71 crore in the corresponding half year of the previous financial year, registering growth of 12.34%.
The company’s key financial performance indicators for the period were:
- Gross Premium Income: ₹24,703.57 crore, up 12.3% from ₹21,989.71 crore.
- Profit Before Tax (PBT): ₹5,591.79 crore, down 2.18% year-on-year.
- Profit After Tax (PAT): ₹4,377.66 crore, down 5.23% from ₹4,619.02 crore.
- Investment Income: ₹7,503.78 crore, compared with ₹7,105.41 crore in the previous year.
- Underwriting Loss: ₹1,709.06 crore, an increase of 38.4% from ₹1,234.59 crore.
The company’s Incurred Claims Ratio stood at 86.19%, improving from 86.45% in the corresponding period last year.
Read also: GIC Re Q1FY27 Results: Net Profit Rises 9.69% to Rs 1,922 Crore, Premium Income Up 8.8%
Domestic Business Accounts for 80% of Gross Premium
Domestic business remained the largest contributor to GIC Re’s Gross Premium Income during the first half of FY27.
The domestic business generated gross premium of ₹19,794.41 crore, accounting for 80% of the total premium and registering growth of 15.9% year-on-year.
Meanwhile, international business contributed ₹4,909.16 crore, representing the remaining 20% of the total Gross Premium Income. Its premium remained flat compared with the corresponding period of the previous year.
The company also reported strong growth in its Health and Life segments during the period.
Underwriting Loss Rises, Investment Income Improves
GIC Re’s underwriting loss increased to ₹1,709.06 crore in H1 FY27 from ₹1,234.59 crore in H1 FY26, marking a year-on-year rise of 38.4%.
On the investment front, the company recorded income of ₹7,503.78 crore, compared with ₹7,105.41 crore in the corresponding period last year.
Despite the increase in investment income, Profit Before Tax declined by 2.18% to ₹5,591.79 crore, while Profit After Tax stood at ₹4,377.66 crore.
Solvency Ratio Improves to 4.18
GIC Re reported an improvement in its solvency position during the first half of FY27. Its solvency ratio increased to 4.18 as of September 30, 2026, compared with 3.85 as of September 30, 2025.
The company’s Combined Ratio stood at 107.39% for the half year ended September 30, 2026, marginally lower than 107.41% recorded in the corresponding period of the previous year.
Other key balance sheet indicators included:
- Total Assets: ₹2,13,420.24 crore, up 7.46% year-on-year.
- Net Worth: ₹53,402.32 crore, excluding the Fair Value Change Account.
About General Insurance Corporation of India (GIC Re)
General Insurance Corporation of India (GIC Re) is a public sector reinsurance company headquartered in Mumbai. It provides reinsurance support to insurance companies in India and international markets across various business segments, including property, marine, motor, health and life insurance. The corporation plays an important role in supporting the Indian insurance industry by providing risk management and reinsurance solutions.
