GIC Re's quarterly net profit falls 14% on weaker underwriting
Net profit at India's largest reinsurer, GIC Re, fell 14.35% in the quarter ended September 2026 on weaker underwriting, according to Moody's.
- published on Newsmetry
- original source published
the same feed is available to bots and dashboards through the api. connect the api →
what happened
Net profit at General Insurance Corporation of India (GIC Re), the country's largest reinsurer, dropped 14.35% year on year to 2,455 crore in the quarter ended September 2026. A year earlier the company had posted 2,866 crore. Moody's attributes the decline to deterioration in underwriting performance.
Gross written premium rose 16.96%, to 11,228 crore from 9,600 crore a year earlier. However, the underwriting loss widened to 985 crore from 387 crore, and the combined ratio worsened to 110.23% from 109.15%. In practice, claims and expenses outpaced the premiums the company earned.
The pressure came mainly from the domestic business, where the incurred claims ratio climbed to 107% from 104% a year earlier.
why it matters
A combined ratio above 100% means the insurance operations are running at a loss, even before investment income is counted. Premium growth did not offset the higher claims, so investors will watch whether the company can keep claims under control in the coming quarters.
market impact
Indian insurance sector: weaker underwriting pressures GIC Re's profit
- GIC Re pressure down — claims and expenses growing faster than premiums cut into profit
tags
instruments
sources
- GIC Re Q2 Net Profit Slips 14% — Moody's, 31 October 2026 at 04:12 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
alerts on your topics, the morning digest and the api — in your account.
get stories in real time ↗